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    lizbeth1's Avatar
    lizbeth1 Posts: 1, Reputation: 1
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    #1

    Sep 20, 2010, 01:05 PM
    Used $100 of office supplies. How does this effect the balance sheet?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 20, 2010, 01:15 PM

    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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