Author Question: Office supplies purchased by Janer's Cleaning Service on account were returned. Which of the ... (Read 90 times)

tnt_battle · **on:** Jul 5, 2018

Office supplies purchased by Janer's Cleaning Service on account were returned. Which of the following entriesfor Janer's Cleaning Service records this transaction?
a. Cash, debit; Office Supplies, credit
b. Office Supplies, debit; Accounts Receivable, credit
c. Accounts Payable, debit; Office Supplies, credit
d. Office Supplies, debit; Accounts Payable, credit

Question 2

Which of the following statements concerning the notes to the financial statements is true?

A. The notes to the financial statements are an integral part of the basic financial statements.
B. The notes to the financial statements are considered to be required supplementary information.
C. The auditor's opinion generally does not extend to the notes to the financial statements.
D. The notes support the basic financial statements, management's discussion and analysis, and other required supplementary information.