If Bojana Tax Services' office supplies account balance on March 1 was $1,400, the company purchased $675 of supplies during the

Question

3 years ago

8

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?

Business

1 answer:

worty [1.4K] · Answer 1 · 2021-12-11T03:10:39+03:00

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

<u>Explanation</u>:

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.