The Assets and Liabilities of Rocky's Day Spa at December

question 40

Essay

The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an additional $10,000 during the year. Net income for the year is $45,625.? $$\begin{array} { | l | r | l | r | } \hline \text { Accounts payable } & \$ 4,375 & \text { Spa operating expense } & \$ 23,760 \\\hline \text { Accounts receivable } & 8,490 & \text { Office expense } & 2,470 \\\hline \text { Cash } & 13,980 & \text { Spa supplies } & 9,230 \\\hline \text { Fees earned } & ? ? ? & \text { Wages expense } & 26,580 \\\hline \text { Spa furniture and equipment } & 56,000 & \text { Drawing } & 38,170 \\\hline \text { Computers } & 2,130 & & \\\hline\end{array}$$ Prepare an income statement for the current year ended December 31.

---

Definitions:

Biological Attributes

The inherent characteristics and traits of an organism, including genetic, physiological, and physical features.

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups.

Cultural Safety

The practice of empowering individuals by respecting their cultural identity and ensuring the environment is safe for them, without the assault or challenge of their identity.

Cultural Awareness

The understanding and recognition of the differences and similarities among cultures.