1. 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 equipments 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? d. Revenues 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? e. Wages of $2,000 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? f. 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