Answer the Following Questions.(Show Your Work. )

question 47

Essay

Answer the following questions.(Show your work. )
a.Revenue of $60,000 was earned,but only $45,000 was collected.Expenses of $36,000 were incurred,but only $30,000 was paid.What is reported net income?
b.Wages of $4,000 are paid every Friday for a five-day workweek.If year end falls on a Tuesday,the adjusting entry for wages would be recorded at what amount?
c.A company vehicle is purchased for $24,000.Assuming an eight-year useful life and zero value at that time,what is the balance of accumulated depreciation after five years?
d.Supplies Expense of $3,600 was recorded for a given year.Assuming that $2,400 in supplies were purchased during the year and that $640 in supplies remained at year end,what was the cost of supplies at the beginning of the year?

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Definitions:

Thermal Pollution

The degradation of water quality by processes that change its temperature, often due to the disposal of heated industrial water or natural water bodies.

Thermal Shock

The stress induced in a material due to a rapid change in temperature.

Aquatic Organisms

Living beings that reside in water environments, including both freshwater and marine ecosystems.

Inorganic Chemicals

Chemical compounds that generally do not contain carbon-hydrogen bonds, including minerals, metals, and gases like oxygen and nitrogen.