What will be the balance in the expense and pevenue summary

Assignment Help Financial Accounting

Reference no: EM132763872

Problem 1: What will be the balance in the Expense and Pevenue Summary on June 1. 20-?

A. A credit of $1.079.72

B. A debit of $1.079.72

C. 0

D A credit of $1.838.25

Problem 2: After you made the adjusting entry, what is the balance of the Supplies account?

A. $542 92 debit balance

C. $342.92 credit balance

B. $342.92 debit balance

D. $200 credit balance

Problem 3: What is the balance of the Prepaid Insurance account after you made the adjusting entry?

A $600 debit balance

B. $ 600 credit balance

C. $600 credit balance

D. $400 debit balance

Reference no: EM132763872

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