Is a calculator an equipment or office supply?


Posted April 27th, 2010 by admin 4 Comments »
office supply
Sesanian asked:


My accounting teach expresses that I did an entry wrong on a general ledger because I listed a calculator as an office supply and not an equipment. Is this correct? Please give sources.

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Posted in Other - Business & Finance | 4 Comments »

At the end of the accounting period, the business had $4,500 of office supplies on hand?


Posted March 19th, 2009 by admin 4 Comments »
office supply
Reno B asked:


At the end of the accounting period, the business had $4,500 of office supplies on hand. At the beginning of the period, the amount of supplies on hand was $3,000. If the business purchased $12,000 of office supplies during the year, what amount of office supplies were used during the year?

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The answer is $10,500, but how did they get this?

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Posted in Small Business | 4 Comments »