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
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
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The terrorism risk in the United States
A) is of no concern to private companies. B) is limited to attacks by foreign nationals. C) can be addressed through risk control and insurance. D) is an uninsurable risk.
Miller Corporation issued 12,000 shares of its $5 par value common stock in payment for attorney services billed at $180,000. Miller Corporation's stock has been actively trading at $15 per share
The journal entry for this transaction would include a credit to: A) Paid-in Capital in Excess of Par—Common for $180,000. B) Paid-in Capital in Excess of Par—Common for $120,000. C) Legal Expense for $180,000. D) Common Stock for $180,000.