Question

If Bojana 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 indicated $1,250 unused, what is the amount of the adjusting entry for office supplies on March 31?

Answer 1

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

Explanation:

Calculation of the 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 organization bought $675 of provisions during the month, and  

A physical check of provisions close by toward the finish of March demonstrates $1,250 unused.  

It implies the Supplies utilized was (1400+675-1250) = $ 825  

Consequently, the measure of adjusting entry for office supplies on March 31 will be $825.