The supplies account has a balance of $810 at the beginning of the year and wa debited during the year for $1,950, representing the total of supplies purchased during the year. If $650 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year would be?

I'm confused by this simple question... I need help.

Thanks
Dell

Opening Inv 810 + Purchases 1,950 = 2,760 Inventory Available to sell

2,760 Inventory Available to sell – Ending Inventory 650 = 2,110 Sold

Therefore,

Dr. Supplies Expense 2,110
Cr. Supplies 2,110

Thanks again Captain Forest.

Dell

Quote:

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Originally Posted by Dell

Thanks again Captain Forest.

Dell

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Your welcome. (for all of them)