7. The zoo owns a van which is being depreciated over a period of 10 years. The van was bought for $18000. Show calculations where necessary. (6 points).

8. If the accumulated depreciation as of December,2020 for the van was $3300. How many months ago was this van bought? Show calculations where necessary.

9.Salaries earned by employees, but not recorded or paid as of December 31, 2020 amount to $2400. No entry has been made to record this liability expense. Show calculations where necessary.

10. Income taxes expense for December is estimated at $3500. This amount will be paid in June 30, 2021 in installments. Show calculations where necessary.

11. The zoo signed a contract with the local primary schools of Gzelyurt and Lefke. Chidren from theses schools wll visit the zoo once a year. Show calculations where necessary

12. The zoo receives a 10% of the revenue earned by Kidos Corporation, the concessionaire operating the snack bar. For the snack bar sales in December, 2020 was $1000. Kidos Corporation owes concessions revenue (use concessions revenue account) to the zoo, payable on January 15, 2021. No entry has been made to record this revenue. Show calculations where necessary. (6 points)

13. A bus to carry children visitors from local primary schools had been rented the second week of December at a daily rate of $15. At December 31, no rental payment has been made, although the zoo has had use of the bus for 16 days. Show calculations where necessary.

14. The zoo has already paid $ 1500 for numerous advertisements in the Facebook. 1/3 of these advertisements have appeared as of December, 2020. Show calculations where necessary.

15. On September 1, 2020, the company borrowed $9000, by signing a 9-month, 7% note payable. The entire not plus nine months accrued interest is due on June 1, 2021. Show calculations where necessary.

b) How much interest will the zoo pay at the end of 9 months?

Calculations:

16. There is water shortage in Lefke. The bought $410 worth of water for the animals on the 4^th of December, 2020. The zoo will pay the money on the 4^th January, 2021. Show calculations where necessary.