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
George Bellows, A Day in June.
Acid–Base Balance
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