Answer the Following Questions.(Show Your Work.)

question 188

Essay

Answer the following questions.(Show your work.)
a.A machine was purchased on July 1,2012.It had a cost of $72,000 and an estimated useful life of nine years with zero value at that time.What is the machine's carrying value after four years?
b.On April 1,2012,a company paid in advance $108,000 for three years' insurance.How much Prepaid Insurance remains on the balance sheet on December 31,2012?
c.A company began the year with $1,600 in supplies,purchased $4,000 in supplies,and ended the period with $1,200 in supplies.How much is Supplies Expense for the period?
d.A company was paid $3,600 in advance for services to be performed.At year end,one-third had not yet been earned.How much in Service Revenue should be recorded?

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Definitions:

Size Constancy

The perceptual phenomenon where the perceived size of an object remains constant despite changes in the size of the object's image on the retina due to varying distances.

Perception

The cognitive process of interpreting and making sense of sensory information from the environment, influencing how one understands and interacts with the world.

Retina

A light-sensitive layer at the back of the eye that converts light into neural signals for visual processing by the brain.

Gestalt Psychologists

Psychologists who focus on human perception and cognitive processes, emphasizing the whole is greater than the sum of its parts.