User Account

All Pages

Which is correct after recording the adjustment on june

Assignment Help Financial Accounting
Reference no: EM132771378

Problem 1: The supplies account of Enron Ltd shows a balance of $2800 on 30 June 2021, the end of the financial year. Supplies of $2550 were used during the month of June 2021. Which of the following is correct after recording the adjustment on 30 June 2021?

Select one:

A Supplies expense in the income statement is $2550 and Supplies in the balance sheet is $250.
B Supplies expense in the income statement is $2800 and Supplies in the balance sheet is $0.
C Supplies expense in the income statement is $0 and Supplies in the balance sheet is $2800.
D Supplies expense in the income statement is $250 and Supplies in the balance sheet is $2550.

Reference no: EM132771378

Questions Cloud

What the end of the accounting period is : The adjusting entry required to accurately represent the expired insurance on 31 December 2020, the end of the accounting period, is
Develop a plan of care using the nursing process : Develop a plan of care using the nursing process for a client who has severe back pain due to arthritis. Use evidence based practice.
Which the term general purpose financial statements refers : Find Which statements concerning accrual accounting is correct? Which The term 'general purpose financial statements' refers to?
Describe how to craft each component of an annotation : This week, you will submit the annotation of a qualitative research article on a topic of your interest. Narrative, ethnographic, grounded theory, case study.
Which is correct after recording the adjustment on june : Supplies of $2550 were used during the month of June 2021. Which of the following is correct after recording the adjustment on 30 June 2021?
Examine what is sociology and social interaction : This purpose of discussion 1 is to examine what is sociology, culture, socialization, and social interaction. Answer prompt 1. Then select and answer one prompt
Focus of communication strategies : Technology, as an integral component in today's business world, is often the focus of communication strategies.
Describe major influences of each environment : Describe the major influences of each environment on your company (for example, on its competitiveness and ability to survive).
What the end of the accounting period for enron ltd : A two-year insurance premium paid on 1 February 2020. After recording the adjustment on 30 June 2020, the end of the accounting period

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd