Kinesis Company paid or collected during 2021 the following items: Insurance premiums paid 25,450 Salaries paid 116,300 Interest collected 53,750
Kinesis Company paid or collected during 2021 the following items: Insurance premiums paid 25,450 Salaries paid 116,300 Interest collected 53,750
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 10P: Bonus Obligation and Income Tax Expense James Kimberley, president of National Motors, receives a...
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Kinesis Company paid or collected during 2021 the following items:
Insurance premiums paid |
25,450 |
Salaries paid |
116,300 |
Interest collected |
53,750 |
The following balances were from Kinesis Company’s balance sheets:
|
December 31, 2020 |
December 31, 2021 |
Prepaid insurance |
2,400 |
1,700 |
Interest receivable |
4,700 |
3,200 |
Salaries payable |
12,300 |
10,600 |
The insurance expense on the income statement for 2021 was
The interest revenue on the income statement for 2021 was
The salary expense on the income statement for 2021 was
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