31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry ma

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marshall27 [118]

3 years ago

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31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry ma

de at the end of an accounting period will be equal to

Business

1 answer:

scoundrel [369] · Answer 1 · 2023-02-02T15:30:17+03:00

We can actually deduce here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

<h3>What is accounting period?</h3>

An accounting period is actually known to be the period of time that a particular accounting function is covered. It can be a fiscal year, quarterly, monthly or even weekly.

We see here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

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