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-   -   Used $100 of office supplies. How does this effect the balance sheet? (https://www.askmehelpdesk.com/showthread.php?t=509281)

  • Sep 20, 2010, 01:05 PM
    lizbeth1
    Used $100 of office supplies. How does this effect the balance sheet?
  • Sep 20, 2010, 01:15 PM
    pready

    The Office supplies account on the Balance Sheet will be overstated by $100 and your Income will be overstated by $100 as well.

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