Business, 26.03.2020 20:09, gutierrezforlife8220

The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1,000 on hand. Which of the following is an adjusting entry on June 30?
a. debit Laundry Supplies Expense, $2,000; credit Laundry Supplies, $2,000.
b. debit Laundry Supplies, $4,500; credit Laundry Supplies Expense, $4,500.
c. debit Laundry Supplies, $2,000; credit Laundry Supplies Expense, $2,000.
d. debit Laundry Supplies Expense, $4,500; credit Laundry Supplies, $4,500.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 14:40, smithnakayla19

Increases in output and increases in the inflation rate have been linked to

Answers: 2

continue

Business, 22.06.2019 20:40, mom1645

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.

Answers: 1

continue

Business, 22.06.2019 20:50, arturocarmena10

Which of the following is an example of a monetary policy? a. the government requires credit card companies to protect customers' privacy. b. the government restricts the amount of money that banks can lend. c. the government lowers taxes and increases spending. d. the government pays for repairing damage from a natural disaster.

Answers: 1

continue

Business, 23.06.2019 00:00, zhellyyyyy

The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:

Answers: 2

continue

Do you know the correct answer?

The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the pu...