Question 1)

Karev Company started Year 2 with a $500 balance in its Cash account, a $500 balance in its Supplies account and a $1,000 balance in its common stock account. During Year 2 the company experienced the following events. (1) Paid $220 cash to purchase supplies. (2) Physical count revealed $204 of supplies on hand at the end of Year 2 Based on this information the amount of supplies expense reported on the Year 2 income statement is $_____

Question 2)

During 2018, the following events occurred for Parker Company

1. Parker receives $36,000 cash in advance from Westberry Company for consulting services to be performed over a one-year period beginning March 1, 2018.
2. Provided $48,500 of consulting services on account.
3. Collected $15,900 cash from customers in partial settlement of its accounts receivable.
4. Parker recognizes the portion of the unearned revenue it earned during the accounting period.

After recording all these transactions, Parkers total revenue will be $______