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How much did coombes pay for insurance

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Reference no: EM131812560

The solution for 6 is Prepaid Insurance 2009 + x - Insurance Expense 2010 = Prepaid Insurance 2010

But the solution for 14 is different: Prepaid Insurance 2013 - x + Amount Paid 2014 = Prepaid Insurance 2014

Why is X added in 6 and subtracted in 14?

Use the following information from Coombes Corporation's annual financial statements to answer questions 6 and 7:

  2009 2010 2011 2012
Prepaid insurance $2,000 $1,200 $1,800 $1,650
Insurance expense $24,000 $24,800 $25,100 $25,000
Salaries payable $8,000 $1,000 $6,000 $9,000
Salary expense $46,000 $49,000 $50,000 $52,000

How much did Coombes pay for insurance during 2010?

Goleta Company had the following information on its annual financial statements:

  2011 2012 2013 2014
Prepaid insurance $1,400 $1,250 $1,300 $1,500
Amount paid for insurance $16,500 $17,000 $17,500 $18,000

How much was insurance expense during 2014?

Reference no: EM131812560

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