1. In a recent annual report the following information is provided:

Assume this amount all related to insurance and that $70 million cash was paid during the year to the insurance company. What is the insurance expense for the 2016 financial year?
2. A large soft drink manufacturer, in a recent annual report, included an amount of $306.7 million in accrued charges ($297.1 million in 2015). Assume that all these accrued charges related to wages. If the wages paid during the year were $500 million, what was the wages expense for 2016?
3. In note 10 of its 30 September 2016 annual report, OK Limited shows the following:

Assume that this amount is all related to insurance and that $30 million cash was paid during the year to the insurance company. What is the insurance expense for the year ended 30 September 2016?

Transcribed Image Text:

2016 $m 2015 Sm Prepayments 50.8 52.0