The asset account, Office Supplies, had a beginning balance

The asset account, Office Supplies, had a beginning balance of $3,800. During the accounting period, office supplies were purchased, on account, for $2,500. Supplies Expense for the accounting period is $4,000

What is the ending balance of Office Supplies?
A) $6,300
B) $2,300
C) $4,000
D) $5,300

ANSWER

B .Office Supplies:
Beginning balance $3,800
Add Office Supplies purchased 2,500
6,300
Less Office Supplies expensed 4,000
Office Supplies $2,300

Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00