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Homework answers / question archive / Missing amount from an account: On August 1, the supplies account balance was $1025
Missing amount from an account:
On August 1, the supplies account balance was $1025. During August, supplies of $3110 were purchased, and $1324 of supplies were in hand as of August 31.
Determine supplies expense for August ?
Computation of Supplies Expenses for August:
Supplies on hand as of August 1 = $1,025
Add: Purchase of supplies during August = $3,110
Less: Supplies on hand as of August 31 = $1,324
Supplies Expense for August = $2,811
