Question

Supplies had a beginning balance of $4,000. A physical count at the end of the accounting period revealed $2,500 supplies on hand. What adjustment amount will appear for Supplies in the Adjustments section of the end-of-period spreadsheet?

Answer 1

The amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet is $1,500.

Step-by-step explanation:

Given:

Supplies had a beginning balance of $4,000. A physical count at the end of the accounting period revealed $2,500 supplies on hand.

Now, to find the amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet.

As, given in the question:

Beginning balance of Supplies = $4,000.

Supplies on hand = $2,500.

So, to get the amount of adjustment Supplies on hand should be subtracted from the beginning balance of Supplies:

`\$4,000-\$2,500\\\\=\$1,500.`

Therefore, the amount that will appear for Supplies in the Adjustments section of the end-of-period spreadsheet is $1,500.