Vake Purchased Supplies at a Cost of $18,000 During 2016

question 48

Multiple Choice

Vake purchased supplies at a cost of $18,000 during 2016.At January 1, 2016, the beginning balance in the supplies account was $1,000.For 2016, supplies expense was $16,000.How much "Supplies" are on hand as of December 31, 2016?

• A) $ 1,000
• B) $ 3,000
• C) $16,000
• D) $17,000

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Definitions:

Historical Data

Data collected from past events used to analyze trends, forecast future occurrences, or establish baselines in various fields like finance, meteorology, or scientific research.

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A pizza variety topped with an assortment of vegetables, often including tomatoes, peppers, onions, and olives, among others.