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
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Chapter1: Financial Statements And Business Decisions
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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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