Clean Sweep,Inc.started the month of June with $600 worth of cleaning supplies.During the month,Clean Sweep purchased $400 of supplies for cash.At June 30,$300 worth of supplies was unused.How much cleaning supplies expense will the company show on its income statement for the month of June?
A)$300
B)$100
C)$1,000
D)$700

Question

Quizplus · Accepted Answer

The total cost of cleaning supplies purchased during the month of June is $600 + $400 = $1,000.
The value of unused supplies at the end of June, $300, is subtracted from the total cost of supplies purchased: $1,000 - $300 = $700.
Therefore, the company will show $700 in cleaning supplies expense on its income statement for the month of June.