Bravo Company had $5,100 of supplies on hand at the beginning of 2016. On March 31 Bravo purchased an additional $12,400 of supplies. On December 31, a physical count of revealed a total of $5,700 of supplies on hand. What dollar value of Supplies Expense will be reported in the annual financial statements?

Yankee Stores of Maine experienced an increase in total assets of $24,000 during the current year. During the same time period, total liabilities increased $5,000. Shareholders made no investments during the year and no dividends were paid. How much was Yankee's net income?

On January 26, 2016 a customer paid Bravo Unlimited a sum of $250 in advance for printing. On January 28, Bravo printed 500 posters for Zulu Company at a price of 30 each. What would be the adjusted balance in the Unearned Revenue account on January 31, 2016?

On August 1, 2016 supplies were purchased; Accounts Payable was debited and Supplies credited for $1,500. The account was due in October, and $750 of these supplies was on hand at the end of August. On August 31, 2016, after all entries to correct and end of the month adjusting entries what are the account balances in the:

Supplies

Supplies Expense

Accounts Payable

Bravo's year-end is December 31. On June 1, 2016, Bravo borrowed $25,000 on a one-year loan. Interest on this loan accrues at 6% per year. What is the adjusted balance in the Interest Expense account on December 31, 2016?

During 2016, Bravo Company had credit sales of $40,000 and cash sales of $18,000. In 2016 Bravo collected $25,500 of accounts receivable resulting from sales on credit. Bravo incurred operating expenses of $7,500; of this amount, $3,500 was paid in 2016, and the $4,600 balance represented a liability at year-end. In addition to these operating expenses, Bravo also purchased for cash a three-year insurance policy on January 1, 2016. The cost of this policy was $3,000. What is Bravo's 2016 cash basis net income?

During 2016, Bravo Company had credit sales of $45,000 and cash sales of $18,000. In 2016 Bravo collected $21,000 of accounts receivable resulting from sales on credit. Bravo incurred operating expenses of $8,500; of this amount, $2,900 was paid in 2016, and the $4,600 balance represented a liability at year-end. In addition to these operating expenses, Bravo also purchased for cash a three-year insurance policy on January 1, 2016. The cost of this policy was $3,000. What is Bravo's 2016 accrual basis net income?

On January 2, 2016, Bravo purchased a one-year insurance policy for $2,400. On that date, Bravo debited Prepaid Insurance for $2,400. If Bravo desires to prepare financial statements at the end of March, what would be the balance in the accounts for?

Prepaid Insurance

Insurance Expense