Presented below is the trial balance for ABC, Inc. as of December 31, 2008, before...
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Accounting
Presented below is the trial balance for ABC, Inc. as of December 31, 2008, before adjusting entries:
ABC , INC.
Trial Balance
December 31, 2008
|
| DR |
| CR |
| Cash | $28,400 |
|
|
| Accounts Receivable | 12,500 |
|
|
| Prepaid Insurance | 7,200 |
|
|
| Equipment | 25,000 |
|
|
| Accumulated Depreciation Equipment |
|
| $ 800 |
| Unearned Revenue |
|
| 6,000 |
| Notes Payable |
|
| 7,950 |
| Retained Earnings |
|
| 5,000 |
| Common Stock |
|
| 29,000 |
| Fee Revenue |
|
| 39,000 |
| Salaries Expense | 13,200 |
|
|
| Supplies Expense | 950 |
|
|
| Interest Expense | 500 |
|
|
|
| $ 87,750 |
| $ 87,750 |
29. At December 31, there were $400 of supplies on hand. The adjusting entry on December 31, 2008 is a:
a. debit to Supplies and a credit to Cash
b. debit to Supplies and a credit to Supplies Expense
c. debit to Supplies Expense and a credit to Cash
d. debit to Supplies Expense and a credit to Supplies
e. None of the above
30. Refer to the previous question. The amount of the entry is:
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