Solution-Calculate the amount of cash paid for insurance

Calculate the amount of cash paid for insurance

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Reference no: EM13833814

After adjusting entries had been made, Infosys Company's balance sheets showed the following asset and liability amounts at the end of 2013 and 2014:

	2014	2013
Prepaid insurance	$1,200	$1,450
Wages payable	600	1,100
Unearned fees	2,100	950

The following amounts were taken from the 2014 income statement:

Insurance expense    $1,900
Wages expense          9,750
Fees earned               4,450

Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2014.

Cash payments for insurance during 2014:     $
Cash payments for wages during 2014:          $
Cash receipts from fees during 2014:             $

Reference no: EM13833814

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Calculate the amount of cash paid for insurance

Reference no: EM13833814

Reference no: EM13833814

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