Question

Supplies at the beginning of the year were $2.400. During the year, supplies Casting $19,600 were purchased. At year end, a physical inventory indicated that supplies costing $4,100 were on hand. Account Names DR Show any necessary calculations Mark for Review What's This? Question 5 of 5 1 Points At year end, Bartow estimates that the unpaid utilities total $500 DR Account Names acer

Answer 1

Working Notes:
	Calculation of Supplies Used during the Period
	Supplies Expenses = Beginning Supplies + Purchase during the period - Supplies in hand at end
	Supplies Expenses =
	Beginning Suppliies =	$                      2,400
	Add: Purhcase during the Period	$                    19,600
	Total Supplies Available	$                    22,000
	Less: Ending Supplies in Hand	$                      4,100
	Supplies used during the Period =	$                    17,900
Solution:
	Accounts	Debit	Credit
	Supplies Expenses	$                    17,900
	Supplies		$                  17,900