A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense for the year is $3,250, what amount of office supplies was purchased during the period?

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02-03-2019
Business

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A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense for the year is $3,250, what amount of office supplies was purchased during the period?

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MrsSeifried MrsSeifried · Answer 1 · 2019-03-04T01:39:57+01:00

The correct answer is that there was $3,080 worth of office supplies purchased during the period.

In order to answer this question you know that the company started with $630 worth of office supplies and ended the year with $460 worth, or $170 less than they started with. The company used $170 of supplies from inventory, so they needed to purchase another $3,080 in order arrive at the $3,250 that we know was the total expense during the reporting period.

aswans aswans · Answer 2 · 2022-06-20T19:25:24+02:00

There was $3,080 worth of office supplies was purchased during the period.

What is the amount off office supplies was purchased?

In order to answer this question you know that the company started with $630 worth of office supplies and ended the year with $460 worth, or $170 less than they started with. The company used $170 of supplies from inventory, so they needed to purchase another $3,080 in order arrive at the $3,250 that we know was the total expense during the reporting period.

The correct answer is that there was $3,080 worth of office supplies purchased during the period.

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