The following information relates to the supplies account, Ask an Expert

Accounting

The following information relates to the supplies account of ABC Company:

January 1, 2005 December 31, 2005

Supplies ? 38,000

ABC Company reported supplies expense of $17,000 in its 2005 income statement and purchased $23,000 of supplies during 2005.

Calculate ABC Company's supplies balance at January 1, 2005. Do not use decimals in your answer

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91525239

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