Presented Below Is a Balance Sheet for the Marks Lawn

question 24

Essay

Presented below is a balance sheet for the Marks Lawn Service at December 31, 2013. The following additional data are available for the year which began on January 1, 2013: All expenses (excluding supplies expense) total $6,000. Supplies on January 1, were $11,000 and $3,000 of supplies were purchased during the year. Profit for the year was $8,000 and drawings were $5,000.
Instructions
Determine the following: (Show all calculations.)
a. Supplies used during the year.
b. Total expenses for the year.
c. Service revenues for the year.
d. Bill Marks' capital balance on January 1.

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Definitions:

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A formal document used in construction and project management to make changes to the original project agreement.