This topic contains a solution. Click here to go to the answer

Author Question: The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the ... (Read 93 times)

mrsjacobs44

  • Hero Member
  • *****
  • Posts: 500
The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having
 a. expenses understated and therefore net income overstated
  b. revenues understated and therefore net income understated
  c. expenses understated and therefore net income understated
  d. expenses overstated and therefore net income understated

Question 2

When materials or supplies that have been ordered are received, what budgetary account is credited?
 
  A. Undelivered orders.
  B. Appropriations.
  C. Expended appropriationsunpai d.
  D. Appropriations used.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

brittiany.barnes

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

a

Answer to Question 2

C




mrsjacobs44

  • Member
  • Posts: 500
Reply 2 on: Jul 5, 2018
Excellent


smrtceo

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

For a complete list of videos, visit our video library