Question

On August 1, the supplies account balance was $1,025. During August, supplies of $3,110 were purchased, and $1,324 of supplies were on hand as of August 31. Determine supplies expense for August.

Answer 1

2811.00

Explanation:

BB + Purchase - Used Up = EB 1,025 +3110 - X = 1324X = 2811

Answer 2

we are given

Account balance on 1 st August was $1,025

so,

`BB=1025`

During August, supplies of $3,110 were purchased

so,

purchase =3110

$1,324 of supplies were on hand as of August 31

so, EB=1324

Let's assume supplies expense for August as X

so, we can use formula

`BB+purchase-X=EB`

now, we can plug values

we get

`1025+3110-X=1324`

now, we can solve for X

we get

`X=2811`

so,

The supplies expense for August is $2811.........Answer