Question

He balance in the office supplies account on May 1 was $6,380, supplies purchased during May were $4,740, and the supplies on hand at May 31 were $2,360. The amount to be used for the appropriate adjusting entry is:

A. $8,760.
B. $13,480.
C. $8,740.
D. $4,740.

Answer 1

A. $8,760.

Step-by-step explanation:

Given: Beginning balance of office supplies= $6380.

Purchased supplies= $4740

Ending inventory of office supplies= $2360.

Now, calculating the amount used for the appropriate adjusting entry.

⇒ Amount for adjusting entry=
`\$ 6380+\$ 4740- \$ 2360`

⇒ Amount for adjusting entry=
`\$ 11120 - \$ 2360`

∴ Amount for adjusting entry=
`\$ 8760`

Hence, $8760 is used for the appropriate adjusting entry.