Office Supplies Balance Calculation

What is the final balance of the office supplies account?

a) 8216

b) 13466

c) 10841

d) 3700

Final answer:

To determine the final balance of the office supplies account, add the initial balance to the purchases made during the year, resulting in a final balance of $13,466. The correct option is (b) 13466.

Explanation:

Calculating the Final Balance of the Office Supplies Account:

The question asks us to calculate the final balance of an office supplies account. At the beginning of the year, the account had a balance of $2,625. During the year, office supplies were purchased totaling $10,841, which was added to the account. To find the final balance, we need to perform a simple addition of the starting balance with the amount added during the year.

The calculation steps for the final balance are as follows:

Start with the initial balance of the account: $2,625.

Add the amount of office supplies purchased during the year: $2,625 + $10,841.

The sum gives the final balance of the account.

Therefore, the final balance is $2,625 + $10,841 = $13,466.