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The Green Grape Company's Office Supplies account had a beginning balance of $12,000. During the month, purchases of office supplies totaling $8,000 were added to (increased) the Office Supplies account. If $5,000 worth of office supplies is still on hand at month-end, what is the proper adjustment?

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ayokenny2001

Answer:

Dr Office supplies expense $15,000

Cr Office supplies $15,000

Explanation:

Given the above information, we can compute the proper adjusting entry as;

= ( Transfer $12,000 + $8,000 - $5,000)

= $15,000 from office supplies expense

Therefore, the proper adjusting entry is;

Dr Office supplies expense $15,000

Cr Office supply $15,000

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