Answer the Following Questions.(Show Your Work.)

question 87

Essay

Answer the following questions.(Show your work.)
a.Equipment is purchased for $48,000,to be used for eight years.Assuming zero value at the end of eight years,what is the equipment's carrying value after two years and three months?
b.Prepaid Insurance has an $800 balance prior to adjustment.By year end,one-fourth has expired.What will be the balance in Prepaid Insurance after the adjusting entry has been made?
c.A company purchased $210 in supplies during the year,recorded $120 in Supplies Expense,and ended with $350 of supplies.What was the beginning balance of Supplies?

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Definitions:

Clarity

The quality of being clear, understandable, and precise.

Crisis

A critical or decisive situation or period, especially one that potentially poses instability or great danger.

Social Learning Theory

Social learning theory posits that people learn new behaviors, attitudes, and values by observing and imitating the actions of others.

Transformative Theory

A perspective in conflict resolution that focuses on changing the quality of interpersonal relationships and the social structure through empowerment and recognition.