The Balance in the Office Supplies Account on June 1

question 46

Multiple Choice

The balance in the office supplies account on June 1 was $7,500, supplies purchased during June were $3,100, and the supplies on hand at June 30 were $2,300. The amount to be used for the appropriate adjusting entry is

• A) $2,100
• B) $12,900
• C) $6,700
• D) $8,300

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Definitions:

Formula-Based Method

A systematic approach to problem-solving or decision-making that uses a specific mathematical formula to determine outcomes.

Salesforce Size

The number of individuals in a company's sales team, which can impact the firm's ability to reach potential customers and achieve sales targets.

Florist Needs

Florist needs refer to the specific requirements and tools necessary for florists, including fresh flowers, materials for arrangements, and equipment for maintaining and displaying floral products.

Supermarkets

Large retail establishments offering a wide variety of food and household products, organized into different sections and aisles in a self-service format.