7.

Solve for the missing amounts using a T-account for the balance sheet accounts in each situation. Assume that there is only one debit entry and one credit entry in the account during the month.

Required:

a.	The Supplies account had a balance of $1,550 at the beginning of the month and $2,300 at the end of the month. The cost of supplies purchased during the month was $4,600. Calculate the cost of supplies used during the month.

Supplies
Beginning Balance	$_________
Supplies Purchased	$_________	Supplies	$_________
Ending Balance	$_________

b.	Wages Payable had a balance of $6,500 at the end of the month. During the month, $35,000 of wages were paid to employees. Wages expense accrued during the month totaled $36,500. Calculate Wages Payable at the beginning of the month.

Wages Payable:
Beginning Balance	$_________
Wages Paid	$_________	Wages Accrued	$_________
Ending Balance	$_________