The following information is available for Able Company's Office Supplies account. $$\begin{array} { | l | r | }
\hline \text { Beginning balance } & \$ 2,000 \
\hline \text { Office Supplies expensed } & \$ 8,000 \
\hline \text { Ending balance } & \$ 3,000 \
\hline
\end{array}$$ From the above information, calculate the amount of office supplies purchased.
A) $9,000
B) $8,000
C) $2,000
D) $3,000

Question

The following information is available for Able Company's Office Supplies account. $$\begin{array} { | l | r | } 
\hline \text { Beginning balance } & \$ 2,000 \
\hline \text { Office Supplies expensed } & \$ 8,000 \
\hline \text { Ending balance } & \$ 3,000 \
\hline
\end{array}$$ From the above information, calculate the amount of office supplies purchased.
A) $9,000
B) $8,000
C) $2,000
D) $3,000

Quizplus · Accepted Answer

Office supplies purchased = Beginning balance + Office supplies expensed - Ending balance= $2,000 + $8,000 - $3,000= $9,000

The Following Information Is Available for Able Company's Office Supplies