$3,100, what amount of office supplies was purchased during
the period?
Question 7. Question :
A company had no office supplies
available at the beginning of the year. During the year, the
company purchased $250 worth of office supplies. On
December 31, $75 worth of office supplies remained. How
much should the company report as office supplies expense for
the year?
Question 8. Question :
An account linked with another
account that has an opposite normal balance and that is
subtracted from the balance of the related account is a(n):
Question 9.
used:
Question :
The Income Summary account is
To adjust and update as set and liability
accounts
To close the revenue and expense
accounts
To determine the appropriate dividend
amount
In some situations to replace the income
statement