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24. An ending inventory of supplies account showed a balance of P65,000 on December 31, 2020. At the mid-part of June 2021, it made an additional purchases of supplies

24. An ending inventory of supplies account showed a balance of P65,000 on December 31, 2020. At the mid-part of June 2021, it made an additional purchases of supplies

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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24. An ending inventory of supplies account showed a balance of P65,000 on December 31, 2020. At the mid-part of June 2021, it made an additional purchases of supplies inventory in the amount of P10,000 and recorded P24,000 cost of supplies used. What should be the amount of supplies inventory that will appear in the unadjusted trial balance on December 31, 2021? * O A. P51,000 О в. Р44,000 О С. Р31,000 O D. P24,000
Transcribed Image Text:24. An ending inventory of supplies account showed a balance of P65,000 on December 31, 2020. At the mid-part of June 2021, it made an additional purchases of supplies inventory in the amount of P10,000 and recorded P24,000 cost of supplies used. What should be the amount of supplies inventory that will appear in the unadjusted trial balance on December 31, 2021? * O A. P51,000 О в. Р44,000 О С. Р31,000 O D. P24,000
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