Ibra Co. purchased advertising supplies costing OMR 50,000 on May 7. An inventory count at the close of business on May 31 reveals that OMR 20,000 of the advertising supplies are still on hand. The :adjustment entry will be اخترأحد الخیارات a. None of the answers are correct b. DEBIT Advertising supplies expenses OMR 30,000 and CREDIT Inventory OMR 30,000 c. DEBIT Advertising supplies OMR 20,000 and CREDIT Advertising supplies expenses OMR 20,000
Ibra Co. purchased advertising supplies costing OMR 50,000 on May 7. An inventory count at the close of business on May 31 reveals that OMR 20,000 of the advertising supplies are still on hand. The :adjustment entry will be اخترأحد الخیارات a. None of the answers are correct b. DEBIT Advertising supplies expenses OMR 30,000 and CREDIT Inventory OMR 30,000 c. DEBIT Advertising supplies OMR 20,000 and CREDIT Advertising supplies expenses OMR 20,000
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 5QY: The Supplies account has a 1,400 balance. A physical inventory is taken at the end of the fiscal...
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