Expenses include all of the following except: using supplies. making a payment o

ID: 2567432 • Letter: E

Question

Expenses include all of the following except:

using supplies.

making a payment on account.

paying for electricity used during the current period.

paying wages for production workers for work performed during the current period.

The entry to record the payment of accounts payable:

decreases assets.

increases expenses.

increases liabilities.

increases stockholder's equity.

A business purchased supplies for cash. The business will decrease its Cash account and:

increase its Supplies account.

decrease its Supplies account.

increase its Supplies Payable account

decrease stockholder's equity by recording Supplies Expense for the amount of the payment.

Dear student, only one question is allowed at a time. I am answering the first question

Using supplies amounts to an expense as an asset has been used

Making a payment on account is not an expense as the amount paid is an asset to be adjusted against expenses in future

Payment for electricity is an expense

Payment of wages is an expense

So, option B is the correct option

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