Question: Presented below is a balance sheet for John Hon Service at December 3 1 , 2 0 2 4 . John Hon Service Balance Sheet

Presented below is a balance sheet for John Hon Service at December 31,2024.
John Hon Service
Balance Sheet
December 31,2024
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
Jim Henson, 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 $5,000 of
supplies were purchased during the year. Net income for the year was $8,000 and drawings were
$6,000.
Instructions
Determine the following and answer the question at the end:
1. Supplies used during the year.
2. Total expenses for the year.
3. Service revenues for the year.
4. John Hon's capital balance on January 1.
N.B. This is a 4-part question so there other parts will appear as separate questions
Part 2- Calculate the total expenses for the year.

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