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Author Question: On June 1, Stackable, Inc. has a balance of 6,000 in Supplies. During June, the company buys another ... (Read 127 times)

beccaep

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on: Jul 5, 2018
On June 1, Stackable, Inc. has a balance of 6,000 in Supplies. During June, the company buys another 2,000 of supplies. On June 30, the company counts the supplies and finds that 800 are left unused. What is the proper adjustment at June 30?
 
  A) Decrease Supplies and shareholders' equity by 7,200.
  B) Decrease Supplies and shareholders' equity by 8,000.
  C) Decrease Cash and increase Supplies by 2,000.
  D) Decrease Cash and increase Accounts payable by 7,200.

Question 2

All of the following are documents used for inventory control except
 a. a petty cash voucher
  b. a vendor's invoice
  c. a receiving report
  d. a purchase order


pallen55

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

a


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