Reference no: EM132812353
Kinesis Company paid or collected during 2021 the following items:
Insurance premiums paid 25,450
Salaries paid 116,300
Interest collected 53,750
The following balances were from Kinesis Company's balance sheets:
December 31, 2020 December 31, 2021
Prepaid insurance 2,400 1,700
Interest receivable 4,700 3,200
Salaries payable 12,300 10,600
Problem 1: The insurance expense on the income statement for 2021 was
A. 23,750
B. 25,750
C. 24,750
D. 26,150
Problem 2: The interest revenue on the income statement for 2021 was:
A. 50,550
B. 52,250
C. 55,250
D. 53,750
Problem 3: The salary expense on the income statement for 2021 was:
A. 116,300
B. 114,600
C. 105,700
D. 118,000
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