The Balance Sheets of Palle' Company Include the Following
Question 256
Question 256
Essay
The balance sheets of Palle' Company include the following: Interest Receivable ..................................... Supplies ...................................................... Salaries and Wages Payable ........................ Unearned Service Revenue ..........................12 / 31 / 14 $4,3005,0003,700−0− 12 / 31 / 13 $−0−3,9003,8004,000
The income statement for 2014 shows the following: Interest Revenue ........................................ Service Revenue ........................................ Supplies Expense ........................................ Salaries and Wacges Expense ....................$17,50078,70010,70048,000 Instructions: Calculate the following for 2014: 1. Cash received for interest. 2. Cash paid for supplies. 3. Cash paid for salaries and wages. 4. Cash received for service revenue.
Correct Answer:
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