1).TechGate has signed a new two-year contract with a customer providing access to TechGates cloud-based software engineering tool. TechGate operates on an accrual basis and will invoice the customer $12,000 for full amount of the first-year subscription on 1/1/22. The first year of the agreement runs from 1/1/22 to 12/31/22. At the end of January 2022, how much revenue should TechGate recognize from the agreement?

-$12,000

-$2,500

-$0

-$1,000

2).Which of the following correctly expresses the accounting equation?

-Assets + Owners Equity = Liabilities

-Assets = Liabilities + Owners Equity

-Assets Liabilities = Owners Equity

-Assets + Liabilities = Owners Equity

3). An employee worked the entire year of 2022 and earned a year-end bonus equivalent to 80 hours multiplied by the employee's rate of pay at December 31, 2022. At December 31, 2022 the employee's pay rate was $15. Assuming the company uses the accrual method of accounting, the amount that will be reported on the 2023 income statement as an expense for the bonus paid in 2023 is $_______?

$1200.00

$0.00

$904.20

$871.93