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le Edit View History Bookmarks Window Help 0 ezto.mheducation.com Course Dashboard- PSC-105-171 2018S connect 50 ACCOUNTING 3 Homework Question 4 (of 7) value: 10.00 points Determine the missing amounts in each of these four separate situations a through d Supplies available-prior year-end S700 $3,710 $3,154 4.900 12.614 13,214 Supplies purchased during the current year Total supplies available Supplies available-current year-end 5.600 16.324 1.150 3,634 25,234 800 3,410 -es 13.789 Hints ReferenceseBook & Resources Hint #1 Check my work

Explanation / Answer

Solution: a b c d Supplies available ? prior year-end 700 3,710 3,154 1,375 Supplies purchased in current year 4,900 12,614 25,714 13,214 Total supplies available 5,600 16,324 28,868 14,589 Supplies available ? current year-end 1,150 12,914 3,634 800 Supplies expense for current year 4,450 3,410 25,234 13,789 Working Notes: a b c d Supplies available prior year end 700 3,710 3,154 1,375 [14,589 - 13,214] Add: Supplies purchased in current year 4,900 12,614 25,714 13,214 [28,868 - 3,154] Total supplies available 5,600 16,324 28,868 14,589 [3634+25,234] [800+13,789] Less: Supplies available current year end 1,150 12,914 3,634 800 [16,324-3,410] Supplies expense for current year 4,450 3,410 25,234 13,789 [700+4900-1150] a. Supplies expense for current year = Supplies available prior year end + Supplies purchased in current year - Supplies available current year end =700 + 4900 - 1150 =4,450 b. Supplies available current year end = Supplies available prior year end + Supplies purchased in current year - Supplies expense for current year =3,710 + 12,614 -3,410 =12,914 c. Total supplies available = Supplies available current year end + Supplies expense for current year =3,634 +25,234 =28,868 Supplies purchased in current year = Total supplies available - Supplies available prior year end =28,868 - 3154 =25,714 d. Total supplies available = Supplies available current year end + Supplies expense for current year =800 +13,789 =14,589 Supplies available prior year end = Total supplies available - Supplies purchased in current year =14,589 - 13,214 =1,375 Please feel free to ask if anything about above solution in comment section of the question.

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