Reference no: EM132379645
Question
Financial Statement Articulation:
Ramtin Company has prepared these interrelated pieces of information for your use as appropriate in meeting the requirements of this worksheet.
Situation 1: Sales Revenue for Year 2 was $1,200. Accounts Receivable decreased by $350 during the year. Cash collected from customers was $1,700. What happened to Unearned Revenues during Year 2?
Situation 2: Salaries Expense in Year 2 was $390. Salaries Payable increased by $60. Prepaid Salaries decreased by $30. How much Cash was paid in Year 2 for Salaries?
Situation 3: Cash paid to suppliers in Year 2 was $400. Accounts Payable decreased by $80. There are no prepayments to any supplier. Supplies Inventory went up by $10. How many dollars worth of Supplies Expense were recognized in the income statement in Year 2?
Situation 4: Interest paid to lenders in Year 2 was $15. Prepaid Interest at the end of Year 1 had been $12. At the end of Year 2, Prepaid Interest had decreased by $5 to $7. Interest payable decreased by $3 in Year 2. How much Interest Expense was recognized in Year 2?
The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.
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: Ramtin Company has prepared these interrelated pieces of information for your use as appropriate in meeting the requirements of this worksheet.
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