Spring Sale Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: simple70

IIA Internal Audit Function IIA-CIA-Part3 Question # 143 Topic 15 Discussion

IIA Internal Audit Function IIA-CIA-Part3 Question # 143 Topic 15 Discussion

IIA-CIA-Part3 Exam Topic 15 Question 143 Discussion:
Question #: 143
Topic #: 15

An organization’s account for office supplies on hand had a balance of $9,000 at the end of year one. During year two, the organization recorded an expense for purchasing office supplies. At the end of year two, a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two?


A.

A debit to office supplies on hand for $2,500


B.

A debit to office supplies on hand for $11,500


C.

A debit to office supplies on hand for $20,500


D.

A debit to office supplies on hand for $42,500


Get Premium IIA-CIA-Part3 Questions

Contribute your Thoughts:


Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.