Question

A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?
A. $2,900.B. $2,700.C. $3,500.D. $3,700.E. $3,300.

Answer 1

Answer:

A. $2,900

Explanation:

The computation of the office supplies was purchased during the period is shown below:

= Office supplies expense for the year + ending balance - beginning balance

= $3,100 + $400 - $600

= $2,900

For determine the purchase of office supplies, we added the ending balance and deduct the beginning balance to the office supplies expenses incurred for the year