accounting 6 true or false

true

The two accounts affected by the adjustment for supplies are supplies and supplies expense

true

adjusting entries must be posted to the general ledger accounts

false

If the amount is written in an incorrect column on a work sheet, a line should be drawn through the incorrect amount and the correct amount should be written in the correct column

True

If the trial balance columns are not equal and the difference is $50, the error most likely is a $25 amount written in the wrong column

false

Journals, Ledgers, and work sheets are considered permanent records

true

Net income on a work sheet is calculated by subtracting the income statement debit column total from the income statement credit column total

true

Two financial statements are prepared from the information on the work sheet

false

if the difference between the totals of debit and credit columns on a work sheet can be evenly divided by 9, then the error is most likely in addition.

true

making adjustments to general ledger accounts is an application of the matching expenses with revenue accounting concept

false

the balance of the supplies account plus the value of supplies on hand equal the up-to-date balance of the supplies account.