Question

Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month.

Required:

a. The Supplies account had a balance of $1,650 at the beginning of the month and $2,500 at the end of the month. The cost of supplies purchased during the month was $4,800. Calculate the cost of supplies used during the month.

	Supplies Beginning balance Supplies purchased    Supplies used Ending balance

b. Wages Payable had a balance of $6,700 at the end of the month. During the month, $37,000 of wages were paid to employees. Wages expense accrued during the month totaled $38,500. Calculate Wages Payable at the beginning of the month.

	Wages Payable Beginning balance    Wages paid Wages accrued Ending balance

Answer 1

Answer
Supplies
BEG. Balance	$ 1,650
Supplies purchased	$ 4,800	Supplies used	$       3,950	1650+4800-2500
End. Balance	$ 2,500
Wages Payable
		BEG. Balance	$       6,700
Wages paid	$37,000	Wages accrued	$     38,500
End. Balance	$ 8,200
6700+38500-37000
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