The adjustment to record supplies used during the period would be which of the following? A. Debit Supplies; credit Supplies Expense B. Debit Supplies Expense; credit Cash C. Debit Supplies Expense; credit Supplies D. Debit Supplies; credit Cash

Respuesta :

The adjusting entry to record supplies used is

C. Debit Supplies Expense; credit Supplies

Because it's recorded as expenses

Hope it helps!

The option C is correct.

Further explanation:

The adjustment entries are passed to rectify the mistakes or the omission done in the trial balance. Sometimes when the trial balance does not agree, the suspense account is opened.

Justification for the correct and incorrect answer:

A.  

Debit Supplies; credit Supplies Expense: This option is incorrect.

The expenses are debited when they are charged. In this case expenses are not debited instead credited, it not a correct entry.

B.  

Debit Supplies Expense; credit Cash: This option is incorrect.  

The supplies are required to be charged from the supplies account not the cash account. Therefore, the entry is incorrect.

C.  

Debit Supplies Expense; credit Supplies: This option is correct.  

The supplies expense is debited because they are expense and supplies are credited because they are incurred for obtaining supplies.

D.  

Debit Supplies; credit Cash: This option is incorrect

This entry is representing purchase of the supplies; the expenses are not recorded by this entry.

Therefore, option C is correct.

Learn more:

1.      Learn more about journal entry related to the purchase of the asset

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2.     Learn more about the recording the inventory purchase

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3.     Learn more about the journal entry for petty cash book

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Answer details:

Grade: High School

Subject: Accounting

Chapter: Rectification of errors

 

Keywords: The adjustment to record supplies used during the period would be which of the following, debit Supplies; credit Supplies Expense , debit Supplies Expense; credit Cash, debit Supplies Expense; credit Supplies , debit Supplies; credit Cash.

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