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Homework answers / question archive / The table below represents Able Company's supplies account
The table below represents Able Company's supplies account. Please supply the missing amount
Beginning supplies 5,00C Supplies purchased 6,00C Supplies expense 8,00C Ending supplies
A) $9,000 B) $1,000 C) $3,000 D) $11,000
C )
Computation of Ending Supplies:
Ending Supplies = Supplies Purchased + Beginning Supplies - Supplies Expenses
= $6,000+$5,000-$8,000
Ending Supplies = $3,000