Question

englewood corporation experienced four situations for its supplies. view the four situations. requirement 1. calculate the amounts that have been left blank for each situation. for situations 1 and 2, journalize the needed transac separately. calculate the amounts that have been left blank for situation 1. situation 1 beginning supplies $ 1,500 purchases of supplies during the year total amount to account for 2,900 ending supplies (990) supplies expense $ 1,910

Explanation:

Step1: Recall the supplies - accounting formula

The formula is: Beginning supplies + Purchases of supplies = Total amount to account for.

Step2: Solve for purchases of supplies

Let the purchases of supplies be $x$. We know that beginning supplies = $1500$ and total amount to account for = $2900$. So, $1500 + x=2900$. Solving for $x$, we get $x = 2900 - 1500$.
$x=1400$

Answer:

The purchases of supplies during the year for situation 1 is $1400$.