Question

A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?
A. $2,900.B. $2,700.C. $3,500.D. $3,700.E. $3,300.

Answer 1

Answer:

A. $2,900

Explanation:

The computation of the office supplies was purchased during the period is shown below:

= Office supplies expense for the year + ending balance - beginning balance

= $3,100 + $400 - $600

= $2,900

For determine the purchase of office supplies, we added the ending balance and deduct the beginning balance to the office supplies expenses incurred for the year

Answer 2

The amount of office supplies that was purchased during the period is: A. $2,900.

Using this formula

Office supplies=Office supplies for the year+ Ending balance-Beginning balance

Where;

Office supplies for the year=$3,100

Ending balance=$400

Beginning balance=$600

Let plug in the formula

Office supplies=$3,100 + $400 - $600

Office supplies=$2,900

Inconclusion the amount of office supplies that was purchased during the period is: A. $2,900.

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