HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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I am looking for the correct answer to this general accounting question with appropriate explanations.
On May 1st, Golden Harvest, Inc. purchased $1,500 worth of supplies on account. On December 31st, the fiscal year-end for Golden Harvest, it is determined that $800 worth of supplies still remain. What is the balance in the supplies account after adjustment?
Beginning inventory 53000, ending inventory 60000
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