Question

Supplies had a beginning balance of $4,000. A physical count at the end of the accounting period revealed $2,500 supplies on hand. What adjustment amount will appear for Supplies in the Adjustments section of the end-of-period spreadsheet?

Answer 1

Answer:

The amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet is $1,500.

Explanation:

Given:

Supplies had a beginning balance of $4,000. A physical count at the end of the accounting period revealed $2,500 supplies on hand.

Now, to find the amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet.

As, given in the question:

Beginning balance of Supplies = $4,000.

Supplies on hand = $2,500.

So, to get the amount of adjustment Supplies on hand should be subtracted from the beginning balance of Supplies:

$\ 4,000-\ 2,500\\\\=\ 1,500.$

Therefore, the amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet is $1,500.