The Yellow Apple Company's Office Supplies account had a beginning balance of $6,000. During the month, purchases of office supplies totaling $1,500 were debited to the Office Supplies account.
If $2,250 worth of office supplies is still on hand at month-end, what is the proper adjusting entry?

Question

Quizplus · Accepted Answer

Transfer $6,000 + $1,500 - $2,250 = $5,250 from Office Supplies to Office Supplies Expense

The Yellow Apple Company's Office Supplies Account Had a Beginning