explain it

Part 1 - 2 Marks Each - Total 8 Marks 1. You have some inventory of wire at year end. Your company will use it next year to make hangars. The wire costs your company $10,000 to purchase this past October. Wire prices have dropped 30% since you bought this wire. What value will you give this wire on your December 31st balance sheet? 2. The Accounting Equation for the Balance Sheet is: 3. Some expenses are accrued. Give an example and explain why. 4. Describe what is included in the Current Asset section of the Balance Sheet: Part II - 3 Marks Each - Total 12 Marks 1. Costs are either fixed or variable. Describe the difference using examples