The following Office Supplies account information is available for Nabors Company. $$\begin{array} { | l | r | }
\hline \text { Beginning balance } & \$ 2,000 \
\hline \text { Office Supplies expensed } & 8,000 \
\hline \text { Ending balance } & 1,000 \
\hline
\end{array}$$ From the above information,calculate the amount of office supplies purchased.
A) $7,000
B) $8,000
C) $2,000
D) $1,000

Question

The following Office Supplies account information is available for Nabors Company. $$\begin{array} { | l | r | } 
\hline \text { Beginning balance } & \$ 2,000 \
\hline \text { Office Supplies expensed } & 8,000 \
\hline \text { Ending balance } & 1,000 \
\hline
\end{array}$$ From the above information,calculate the amount of office supplies purchased.
A) $7,000
B) $8,000
C) $2,000
D) $1,000

Quizplus · Accepted Answer

The amount of office supplies purchased can be calculated by adding the office supplies expensed to the ending balance and then subtracting the beginning balance: $8,000 + $1,000 - $2,000 = $7,000.

The Following Office Supplies Account Information Is Available for Nabors