Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 29

Transaction analysis using T-accounts
a. The Supplies account had a balance of $4,800 at the beginning of the month and $6,400 at the end of the month. The cost of supplies purchased during the month was $15,600. Calculate the cost of supplies used during the month.
b. Wages Payable had a balance of $11,600 at the end of the month. During the month, $56,000 of wages were paid to employees. Wages expense accrued during the month totaled $59,000. Calculate Wages Payable at the beginning of the month.
Required:
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.