Reference no: EM132626431

Zena Company's financial records showed the following selected items for 2015:

Advertising receipts $300,000

Land rental revenues $950,000

Interest paid on borrowings $ 31,000

Wage expense $400,000

Zena follows the accrual basis of accounting. The following balances were taken from Zena's balance sheets:

                                       12-31-15             12-31-14

Advertising receivables       28,000                  31,000

Prepaid advertising costs    40,000                  32,000

Wages payable                 30,000                 45,000

Interest payable                  62,000            50,000

Unearned land rental revenue 45,000           22,000

Problem a. What were advertising-related revenues for 2015?

Problem b. What was interest expense for 2015?

Problem c. How much cash was paid out for wages and salaries during 2015?

Problem d. How much cash was collected for land rentals during 2015?