Presented Below Is a Balance Sheet for Jim Henson Yard

question 179

Essay

Presented below is a balance sheet for Jim Henson Yard Service at December 31, 2008.
The following additional data are available for the year which began on January 1: All expenses (excluding supplies expense) total $6,000. Supplies on January 1, were $11,000 and $5,000 of supplies were purchased during the year. Net income for the year was $8,000 and drawings were $6,000.
Instructions
Determine the following: (Show all computations.)
1. Supplies used during the year.
2. Total expenses for the year.
3. Service revenues for the year.
4. Jim Henson's capital balance on January 1.

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Definitions:

Brain Arousal

Refers to the state of being alert and mentally and physically active, regulated by various brain structures and neurotransmitter systems.

Introvert

An individual who prefers solitary activities and is more inwardly focused on their thoughts and feelings.

Extravert

A personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Trait Perspective

A theoretical framework in psychology that focuses on identifying, categorizing, and measuring consistent personality characteristics.