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A company has the following balances on 31st October 2019, which is the end of its financial year. Salaries K520, 000; Fuel expenses K50,000; Insurance K10,000; Rent K36,000. Salaries and wages for September and October 2019 for two employees each earning K5,000 per month have not been included in the accounts. In addition, included in the salaries figure is a payment of K12,000 for hired labour for October and November 2019. Fuel expenses include a four month payment of K10,000 to 31st January 2020. Insurance is for one year to 31 December 2019. Rental expenses include K9,000 paid for the quarter beginning 1st October 2019.
Question 1: What are the balances for salaries and wages, fuel, insurance and rent for the year ending 31st October 2019
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