Question
1.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$425,000Wages & salaries expense$130,000 X follows
1.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$425,000Wages & salaries expense$130,000
X follows the accrual basis of accounting.The following were taken from X's balance sheets:
12-31-1512-31-14
Office rental receivables$39,000$40,000
Insurance premiums receivables40,00033,000
Prepaid office supplies17,00011,000
Prepaid insurance expense9,0004,000
Wages & salaries payable18,00021,000
Office supplies payable8,00010,000
Unearned insurance premiums22,00019,000
Unearned office rental revenue3,00012,000
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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