Question

The asset​ account, Office​ Supplies, had a beginning balance of $ 4 comma 000. During the accounting​ period, office supplies were​ purchased, on​ account, for $ 2 comma 500. Supplies Expense for the accounting period is $ 4 comma 600. What is the ending balance of Office​ Supplies?

Answer 1

The ending balance of Office Supplies is $1,900

Step-by-step explanation:

The ending balance of Office Supplies = the beginning balance + the purchasing amount - the supplies expense

= $4,000 + $2,500 - $4,600

=$1,900