Presented below is a balance sheet for Jersey Yard Service at December 31, 2016.

JERSEY YARD SERVICE

Balance Sheet

December 31, 2016

Assets Liabilities and Owner's Equity

Cash $13,000 Liabilities

Accounts receivable 6,000 Accounts payable $ 8,000

Supplies 9,000 Notes payable 15,000

Equipment 11,000 Owner's equity

Owners capital 16,000

Total assets $39,000 Total liabilities & owners equity $39,000

The following additional data are available for the year which began on January 1: All expenses (excluding supplies expense) total $6,000. Supplies on January 1, were $11,000 and $7,000 of supplies were purchased during the year. Net income for the year was $8,000 and drawings were $9,000.

Instructions

Determine the following: (Show all computations.)

1. Supplies used during the year.

2. Total expenses for the year.

3. Service revenues for the year.

4. Owners capital balance on January 1.