What Are Office Supplies On Hand And Office Supplies Expense - Definition And Meaning - Journal Entry
I n a b usi ness office, Office Supplies O n Hand / Office Supplies Unused are needed w hich are co nsumab le items such as pri nter, pencil, pen, ink port, paper, telep h ones, etc., Wit hout these supplies, a b usi ness can not b e fu nctional effectively. T he word “Supplies O n Ha nd” means t hat office supplies is availa b le for use i n t he b usi ness w he n t he b usi ness initially purc hased it or that it is still not used at t he e nd of t he accou nting period. W h en office supplies on h and is purc h ased, t h en it is existed or availab le for use i n t h e b usi ness and its b e nefit will b e get by t h e business in future. During t he accou nting period, all supplies are not consumed or used b ut remai ned to b e used i n t he next accounting period. T hese remai ning supplies are called closi n g supplies o n ha nd and t hose supplies which are used or co nsumed during t he period are called supplies expe nse b ecause the b usi n