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15 August, 09:14

If Regent Tax Services' office supplies account balance on March 1 was $850, the company purchased $450 of supplies during the month, and a physical count of supplies on hand at the end of March indicated $1,050 unused, what is the amount of the adjusting entry for office supplies on March 31?

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  1. 15 August, 10:17
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    The adjusting entry for office supplies on March 31 is:

    Dr Cr

    Supplies Expense 250

    Office Supplies 250

    Step-by-step explanation:

    850+450-1,050 = $250

    Beginning Supplies $ 850

    Add:Purchase during the month $450

    Total Supplies Available $ 1,300

    Less: Ending Supplies in hand $ 1,050

    Supplies Expenses for March $ 250
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