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The beginning balance of unused supplies is P500. During the period the total purchases of supplies amounted to P2,000 initially recorded as asset. At the end of the period, the actual unused supplies is P200. The supplies expense to be reported for the period is 200 c. 1,800 d. 2,300 a. b. 500

The beginning balance of unused supplies is P500. During the period the total purchases of supplies amounted to P2,000 initially recorded as asset. At the end of the period, the actual unused supplies is P200. The supplies expense to be reported for the period is 200 c. 1,800 d. 2,300 a. b. 500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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60. The beginning balance of unused supplies is P500, During the period the total purchases of supplies amounted to P2,000 initially recorded as asset. At the end of the period, the actual unused supplies is P200. The supplies expense to be reported for the period is 200 c. 1,800 d. 2,300 a. b. 500
Transcribed Image Text:60. The beginning balance of unused supplies is P500, During the period the total purchases of supplies amounted to P2,000 initially recorded as asset. At the end of the period, the actual unused supplies is P200. The supplies expense to be reported for the period is 200 c. 1,800 d. 2,300 a. b. 500
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