Answer to p1. 4?

10:07 PM 30% OO Verizon 1 of 7 Done CHAPTER 1 BASIC FINANCIAL ACCOUNTING REVIEW 4 Interest owing, but not yet paid on the equipment noue payable is of the balance owing at month-end. 0-year life and a $3,000 6 Furnishings have an 8-year life and a $7.000 residual value, s. & Supplies used during the first month are $533. PIA Joe Fast started a mobile snack food service on January 2, 2006, investing S15.000 cash deposited in a bank account in the name of "Fast Saacks' hand, He purchased a fully equipped truck. Joe operated on cash of accounting, and at year's end, asks you to belp find his income or for the first year of operation. You have determined a. He purchased a used cash and fi $12.000 at 20s per year. has on a note at 8% internt He S375 cash on hand and available. e, His receipts s2sAS4 cash in the bank at the end of t. ne for cash purchases of for resale total s30 He value of his inventory inventory an sio24 ending for resale is unpaid for h He invoice for a recent costs, In addition, he has He $1280 of interest truck repair in the amount S2s0 You you he on the truck of that woan. discover loe a month for 12 to for kept record of months use the no using accrual cash sales he during the year. accod Mere delermana the made a small his operating income for the year seasonal lake renting boats and sell. de bout dealer. month. He started the a The value of s22so su rht each heason life and