carolina mills purchased $270,000 in supplies this year. the supplies account increased by $21,000 during the year to an ending balance of $73,000. what was supplies expense for carolina mills during the year?

Supplies expense may be defined as the cost that any industry incur while manufacturing a certain amount of goods or services. It is one of the other expenses incurring within an industry. the other expenses may include Raw material expense, Transportation expense, etc. The formula for calculating Supplies expense will be expressed as

Supplies Expense = Supplies Beginning Balance + Supplies added or purchased during the year - Supplies Ending balance

Now, since the supplies account increased by $21,000 so the supplies beginning balance would be equal to

Supplies beginning balance = $73000 - $21000

Supplies beginning balance = $52000

Now the value of supplies expense will be

Supplies Expense = $52000 + $270000 - $73000

Supplies Expense = $249000

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