Presented Below Is a Balance Sheet for Mark Bledsoe Yard

question 1

Essay

Presented below is a balance sheet for Mark Bledsoe Yard Service at December 31, 2022. 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 $7,000 of supplies were purchased during the year. Net income for the year was $8,000 and drawings were $9,000.
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. Owner's capital balance on January 1.

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Definitions:

Postconventional

A stage of moral development where individuals make decisions based on internal principles and values, rather than conforming to societal norms.

Conventional

Referring to ideas, methods, or standards that are widely accepted and practiced within a society or culture.

Preconventional

A level of moral development where individuals' decision-making is based on avoiding punishment or seeking personal gain.

Individualism

Giving priority to one’s own goals over group goals and defining one’s identity in terms of personal attributes rather than group identifications.