Question

"if regent tax services' office supplies account balance on march 1 was $1,400, the company purchased $675 of supplies during the month, and a physical count of supplies on hand at the end of march indicate $1,250 unused, what is the amount of the adjusting entry for office supplies on march 31

Answer 1

Calculation of amount of the adjusting entry for office supplies on March 31:

It is given that office supplies account balance on March 1 was $1,400, the company purchased $675 of supplies during the month, and a physical count of supplies on hand at the end of March indicate $1,250 unused. It means the Supplies used was (1400+675-1250) = $825

Hence, the amount of the adjusting entry for office supplies on March 31 shall be $825.