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:

Penguin Colonies

Groups of penguins that live together in specific locations for breeding, feeding, and shelter.

PR

Public Relations, which involves managing and disseminating information from an individual or an organization to the public in order to affect their public perception.

Breathable Socks

Socks designed with materials that allow air to circulate, keeping feet dry and comfortable by reducing moisture buildup.

Ecotourism

A form of sustainable travel to natural areas, aiming to conserve the environment, respect the local culture, and promote economic development for local communities.