Question

The following information is available for Acme Inc. Office Supplies Account: Beginning Balance: $6,500 Office Supplies Used:
Which of the following statements is incorrect? Cash, land, and prepaid expenses normally have debit balances. Interest expen
Which organization is principally responsible for making accounting rules used in the United States? Internal Revenue Service
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Answer #1

Solution :- (1)

Beginning Balance = $6,500

Office Supplies Used = $9,000

Ending Balance = $3,300

Now , the amount of Office Supplies Purchased = Ending Balance + Supplies Used - Beginning Balance

= $3,300 + $9,000 - $6,500

= $12,300 - $6,500

= $5,800

Therefore Correct Answer is (c)

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