Assume Sundry,Inc.used cash to purchase $8,000 of supplies during the current year and had $500 of the supplies left over unused at the end of the accounting period.How would this information be reported on the financial statements of Sundry,Inc.?
The statement of cash flows:
The income statement:
The balance sheet:

Question

Quizplus · Accepted Answer

The Answer of Assume Sundry,Inc.used cash to purchase $8,000 of supplies during the current year and had $500 of the supplies left over unused at the end of the accounting period.How would this information be reported on the financial statements of Sundry,Inc.?
The statement of cash flows:
The income statement:
The balance sheet: