The following events apply to tracey’s restaurant for the 2016 fiscal year:

1. started the company when it acquired $21,000 cash from the issue of common stock.

2. purchased a new cooktop that cost $22,000 cash.

3. earned $32,000 in cash revenue.

4. paid $16,000 cash for salaries expense.

5. paid $7,000 cash for operating expenses.

6. adjusted the records to reflect the use of the cooktop. the cooktop, purchased on january 1, 2016, has an expected useful life of five years and an estimated salvage value of $2,000. use straight-line depreciation. the adjusting entry was made as of december 31, 2016.



a. write an accounting equation and record the effects of each accounting event under the appropriate general ledger account headings. (negative amounts should be indicated by a minus sign.)

b. what amount of depreciation expense would tracey’s report on the 2017 income statement?

c. what amount of accumulated depreciation would tracey’s report on the december 31, 2017, balance sheet?

d. would the cash flow from operating activities be affected by depreciation in 2017?

Read the overview below and complete the activities that follow.apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps.concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them.match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap