Accumulated Depreciation Assignment | Top Universities

6. Barton, Inc. owns a machine that was purchased for $79,000. If the Accumulated Depreci­ation on the machine is $55,500, the Balance sheet shows a book value for the machine of:

Multiple Choice

• $23,500
• $134,500
• $79,000
• $55,500

7.

The trial balance shows a Supplies account balance of $3,326. A year-end inventory shows $1,772 worth of supplies left at the end of the year. The correct adjusting entry is:

Multiple Choice

• debit Supplies Expense $1,772; credit Prepaid Supplies $1,772
• debit Supplies Expense $1,554; credit Supplies $1,554
• debit Supplies $1,554; credit Supplies Expense $1,554
• debit Supplies Expense $3,326; credit Supplies $3,326. Get Accounting Homework Help Today.