Reference no: EM132793228
Question - X Company's financial records showed the following during 2015:
Payments made for office supplies $ 60,000 Insurance premiums receipts $500,000
Office rental revenues $425,000 Wages & salaries expense $130,000
X follows the accrual basis of accounting. The following were taken from X's balance sheets:
12-31-15 12-31-14
Office rental receivables $39,000 $40,000
Insurance premiums receivables 40,000 33,000
Prepaid office supplies 17,000 11,000
Prepaid insurance expense 9,000 4,000
Wages & salaries payable 18,000 21,000
Office supplies payable 8,000 10,000
Unearned insurance premiums 22,000 19,000
Unearned office rental revenue 3,000 12,000
Required -
a. What was office supplies expense during 2015?
b. What were wages & salaries payments during 2015?
c. What were insurance premiums revenues during 2015?
d. What were office rental receipts during 2015?
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