1. If the balance of supplies at the start of the month was $700 and at the end of the month you had $250 on hand, the adjustment for Supplies would be:
A. $450
B. $550
C. $250
D. $700
2. The cost of an asset less accumulated depreciation equals:
A. residual value.
B. book value.
C. depreciation expense.
D. None of these answers are correct.