January 1, 2020, Zuhoor Muscat Company had supplies on hand of RO 250. During the year, Zuhoor Muscat Company purchased additional supplies for RO 2,000. A supplies count on December 31, 2020, showed RO 900 of unused supplies. The necessary adjusting :entry to be prepared will include A. None of the options are correct. b. Credit to Supplies RO 1,350. c. Debit to Supplies for RO 900. d. Credit to Supplies expense RO 1,350. e. Debit to Supplies expense RO 3,150.
January 1, 2020, Zuhoor Muscat Company had supplies on hand of RO 250. During the year, Zuhoor Muscat Company purchased additional supplies for RO 2,000. A supplies count on December 31, 2020, showed RO 900 of unused supplies. The necessary adjusting :entry to be prepared will include A. None of the options are correct. b. Credit to Supplies RO 1,350. c. Debit to Supplies for RO 900. d. Credit to Supplies expense RO 1,350. e. Debit to Supplies expense RO 3,150.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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January 1, 2020, Zuhoor Muscat
Company had supplies on hand of RO
250. During the year, Zuhoor Muscat
Company purchased additional supplies
for RO 2,000. A supplies count on
December 31, 2020, showed RO 900 of
unused supplies. The necessary adjusting
:entry to be prepared will include
A. None of the options are correct.
b. Credit to Supplies RO 1,350.
c. Debit to Supplies for RO 90.
d. Credit to Supplies expense RO 1,350.
e. Debit to Supplies expense RO 3,150.
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