Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Question 3 2 pts During the first year of Wilkinson Co
Question 3 2 pts During the first year of Wilkinson Co.'s operations, all purchases were recorded as assets. Supplies in the amount of $19,350 were purchased. Actual year-end supplies amounted to $5,450. The adjusting entry for supplies will increase expenses by $13.900 debit Accounts Payable for 55.450. decrease supplies by $5.450. increase net Income by $13.900
The correct answer is
increase supplies expenses by 13900
Explanation
Supplies expense increase = purchases - year end supplies
= 19350- 5450
= 13900
So the correct answer is
Increase supplies expense by 13900
