Muscat company purchased office supplies costing OMR2,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed OMR1,000 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be Select one: Ⓒa. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000. O b. Debit Office Supplies, OMR1,600; Credit Office Supplies Expense, OMR1,600. Debit Off
Muscat company purchased office supplies costing OMR2,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed OMR1,000 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be Select one: Ⓒa. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000. O b. Debit Office Supplies, OMR1,600; Credit Office Supplies Expense, OMR1,600. Debit Off
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Muscat company purchased office supplies costing OMR2,000 and debited Office Supplies for the full amount. At the end of the
accounting period, a physical count of office supplies revealed OMR1,000 still on hand. The appropriate adjusting journal entry
to be made at the end of the period would be
Select one:
Ⓒa. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000.
Ob. Debit Office Supplies, OMR1,600; Credit Office Supplies Expense, OMR1,600.
● c. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000.
O d. None of the answers are correct
Oe. Debit Office Supplies, OMR 2,000; Credit Office Supplies Expense, OMR 2,000.
Clear my choice](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcd68ffa7-0fce-42c7-bf80-99772fe65073%2Fee1396ce-5e95-4fc2-91f9-0a10351dacba%2Fsew0f1d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Muscat company purchased office supplies costing OMR2,000 and debited Office Supplies for the full amount. At the end of the
accounting period, a physical count of office supplies revealed OMR1,000 still on hand. The appropriate adjusting journal entry
to be made at the end of the period would be
Select one:
Ⓒa. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000.
Ob. Debit Office Supplies, OMR1,600; Credit Office Supplies Expense, OMR1,600.
● c. Debit Office Supplies Expense, OMR1,000; Credit Office Supplies, OMR1,000.
O d. None of the answers are correct
Oe. Debit Office Supplies, OMR 2,000; Credit Office Supplies Expense, OMR 2,000.
Clear my choice
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