Office Supplies Balance Calculation
What is the final balance of the office supplies account?
a) 8216
b) 13466
c) 10841
d) 3700
Final answer:
To determine the final balance of the office supplies account, add the initial balance to the purchases made during the year, resulting in a final balance of $13,466. The correct option is (b) 13466.
Explanation:
Calculating the Final Balance of the Office Supplies Account:
The question asks us to calculate the final balance of an office supplies account. At the beginning of the year, the account had a balance of $2,625. During the year, office supplies were purchased totaling $10,841, which was added to the account. To find the final balance, we need to perform a simple addition of the starting balance with the amount added during the year.
The calculation steps for the final balance are as follows:
Start with the initial balance of the account: $2,625.
Add the amount of office supplies purchased during the year: $2,625 + $10,841.
The sum gives the final balance of the account.
Therefore, the final balance is $2,625 + $10,841 = $13,466.