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4 November, 16:24

A company started the year with $200 of supplies. During the year the company purchased additional supplies costing $1,200. There were $800 of supplies on hand at the end of the year. An adjusted trial balance prepared at the end of the accounting period will show the following balance in Supplies: a.$1,400 b.$800 c.$600 d.$0

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  1. 4 November, 16:34
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    c.$600

    Explanation:

    The adjusted balance of the inventory which is shown below:

    = Opening balance of inventory + purchase of inventory - the closing balance of inventory

    = $200 + $1,200 - $800

    = $600

    And, the journal entry would be:

    Supplies expense A/c Dr $600

    To Supplies A/c $600

    (Being supplies account is adjusted)
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