ransmute Company paid or collected during the current year the following items: Insurance premium paid 15,400 Interest collected 30,900 Salaries paid 135,200 The following balances have been excerpted from Transmute’s balance sheet: December 31 January 1 Prepaid insurance 1,200 1,500 Interest receivable 3,700 2,900 Salaries payable 12,300 10,600 The insurance expense on the income statement for the current year was Note for your final answer:
ransmute Company paid or collected during the current year the following items: Insurance premium paid 15,400 Interest collected 30,900 Salaries paid 135,200 The following balances have been excerpted from Transmute’s balance sheet: December 31 January 1 Prepaid insurance 1,200 1,500 Interest receivable 3,700 2,900 Salaries payable 12,300 10,600 The insurance expense on the income statement for the current year was Note for your final answer:
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.7BE
Related questions
Question
51
Transmute Company paid or collected during the current year the following items:
|
Insurance premium paid |
15,400 |
|
Interest collected |
30,900 |
|
Salaries paid |
135,200 |
The following balances have been excerpted from Transmute’s balance sheet:
|
|
December 31 |
January 1 |
|
Prepaid insurance |
1,200 |
1,500 |
|
Interest receivable |
3,700 |
2,900 |
|
Salaries payable |
12,300 |
10,600 |
The insurance expense on the income statement for the current year was
Note for your final answer:
- Do not use peso sign
- Do not use comma
- Do not use decimal point
- Round off your final answer to the nearest whole number
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