a company had no office supplies available at the beginning of the year. during the year, the company purchased $370 worth of office supplies. on december 31, $125 worth of office supplies remained. how much should the company report as office supplies expense for the year

Question

12 July, 10:31

+5

Answers (1)

Know the Answer?

Andy · Answer 1

Answer: $245

Supplies expense = Supplies purchased during the period - Ending balance of supplies on hand

= 370-125

= $ 245