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During the accounting​ period, office supplies were purchased on account for​ $3200. A physical​ count, on the last day of the accounting​ period, shows​ $1100 of office supplies on hand. Supplies Expense for the accounting period is​ $3600. What was the beginning balance of Office​ Supplies?

Respuesta :

Answer:

$1,500

Explanation:

Given that,

Closing office supplies = $1,100

Office supplies expense for the month = $3,600

Office supplies were purchased on account = $3,200

Opening stock + Purchases - Closing stock = Consumption

Opening stock + $3,200 - $1,100 = $3,600

Opening stock + $2,100 = $3,600

Opening stock = $3,600 - $2,100

                         = $1,500

Therefore, the beginning balance of Office​ Supplies is $1,500.

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