The adjusting entries involving Depreciation Expense-Buildings and Supplies Expense could be reversed.

Question

Quizplus · Accepted Answer

Adjusting entries for depreciation and supplies expense are not reversed because they are not temporary adjustments. Depreciation expense is a way to allocate the cost of a tangible asset over its useful life, and supplies expense is recognized as the supplies are used. These adjustments do not involve future payments or receipts that would require reversal in the next accounting period.

The Adjusting Entries Involving Depreciation Expense-Buildings and Supplies Expense Could