On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. On December 31st, the fiscal year-end for Green Pea, it is determined that $700 dollars of supplies still remain. What is the balance in the supplies account after adjustment? a. $600 b. $700 c. $500 d. $1,200

On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. On December 31st, the fiscal year-end for Green Pea, it is determined that $700 dollars of supplies still remain. What is the balance in the supplies account after adjustment? a. $600 b. $700 c. $500 d. $1,200

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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