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Compute the balance of Prepaid Insurance

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Reference no: EM132615692

Question - Given the following 2024 information for the Pinto Company:

Decrease in Wages Payable $400

Operating Expenses $4,000

Total Cash paid for expenses $5,100

12/31/24 Prepaid Insurance $1,200

Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only.

Required - Compute the 1/1/24 balance of Prepaid Insurance?

a. $500

b. $1,750

c. $2,700

d. $300

e. $1,900

Reference no: EM132615692

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