On April 1,Balsa Company Purchased Office Supplies for $1,500

question 10

Essay

On April 1,Balsa Company purchased office supplies for $1,500.At the end of April,they took a count of the remaining supplies and found that there was $500 of supplies left.Provide the adjusting entry needed at the end of April.(Ignore explanation. )Assume the office supplies were initially recorded as an asset.Assume there were no office supplies on hand prior to the purchase on April 1.

---

Definitions:

Southern Ohio

A region in the United States characterized by its geographical location within the state of Ohio, often noting its distinct cultural and historical features.

New England Settlers

Refers to the early colonists and immigrants who established the first English colonies in the northeastern part of what is now the United States.

Cotton Gin

A machine invented by Eli Whitney in 1793 that quickly and efficiently removed seeds from cotton fibers, significantly impacting the agricultural economy of the United States.

Inventor

An individual who creates or discovers a new method, form, device, or other useful means that becomes known for the first time.