BUSINESS HIGH SCHOOL

The Supplies account for Vulcan Cleaning Services had a debit balance of $200 at the beginning of the month. Additional supplies of $1,400 were purchased during the month. A physical count of supplies revealed that $600 of supplies was still on hand at the end of the month. What was total Supplies expense for the month?

Answers

Answer 1
Answer:

Answer:

$1,000

Explanation:

Beginning balance in supplies account = $200

The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.

If at the end of the month, only $600 of supplies was still on hand total supplies expense

$200 + $1,400 - supplies expense = $600

supplies expense = $200 + $1,400 - $600

= $1,000

The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.

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Explanation:

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Answers

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Answers

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