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Presented below is a balance sheet for Jim Dixon Lawn Service at December 31, 2008.

Price: $3.99


Presented below is a balance sheet for Jim Dixon Lawn Service at December 31, 2008.

JIM DIXON LAWN SERVICE
Balance Sheet
December 31, 2008
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 Dixon, Capital 16,000
Total assets $39,000 Total liabilities & owner’s 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: (Show all computations.)
1. Supplies used during the year.
2. Total expenses for the year.
3. Service revenues for the year.
4. Jim Dixon's capital balance on January 1.


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