If a company initially records the purchase of supplies to the supplies expense account, the mount of the adjusting entry made at the end of an accounting period will be equal to

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27-06-2022
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If a company initially records the purchase of supplies to the supplies expense account, the mount of the adjusting entry made at the end of an accounting period will be equal to

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Tundexi Tundexi · Answer 1 · 2022-06-28T11:53:48+02:00

The amount of the adjusting entry at the accounting period will be equal to the supplies on hand at the end of the period if the company initially records the purchase of supplies to the supplies expense account.

What is a supplies expense account?

In accounting, the account report the amount of supplies that were used during the time indicated on the heading of the income statement.

Hence, If a company initially records the purchase of supplies to the supplies expense account, the amount of the adjusting entry at the accounting period will be equal to the supplies on hand at the end of the period.