Question

the office supplies account started the year with a 4000 debit balance. During the year, the company purchased supplies for 13,400 which added to the office supplies account. the inventory of supplies available at the end of the year total2334. what is beginning balance

Answer 1

Debit Office Supplies Expense: 15,066, Credit Office Supplies: 15,066

Explanation:

Office Supplies Account started with a $4000 debit balance.

Apply the adjustment of the end of the year total. $4000-$2334 = $1666.

The company purchased supplies for $13,400

$13,400 + $1666 = $15,066