Adjusting Entries: Supplies Video Lessons

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Problem: What will be the result if no adjusting entry is made at the end of the accounting period to record the actual use of supplies? a. Liabilities would be overstated b. Assets would be overstated c. Assets would be understated d. Liabilities would be understated

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Problem Details

What will be the result if no adjusting entry is made at the end of the accounting period to record the actual use of supplies?

a. Liabilities would be overstated

b. Assets would be overstated

c. Assets would be understated

d. Liabilities would be understated

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