Buster Corporation purchased supplies at a cost of $20,000 during 2012. At January 1, 2012, the beginning balance in the supplies account was $1,300. For 2012, supplies expense was $11,200. How much "Supplies" are on hand as of December 31, 2012?

Question

Quizplus · Accepted Answer

Beginning balance + Purchases - Supplies expense = Ending balance$1,300 + $20,000 - $11,200 = $10,100

Buster Corporation Purchased Supplies at a Cost of $20,000 During