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6. (7 points) Zena Company's financial records showed the following selected items for 2020: Advertising receipts $900,000 Land rental revenues $500.000 Cash paid for insurance
6. (7 points) Zena Company's financial records showed the following selected items for 2020: Advertising receipts $900,000 Land rental revenues $500.000 Cash paid for insurance $100,000 Wage expense $200,000 Zena follows the accrual basis of accounting. The following balances were taken from Zena's balance sheets: 12-31-20 12-31-12 Advertising receivables 20,000 25,000 Prepaid advertising 50,000 37.000 Prepaid insurance 75,000 50,000 Unearned land rental revenue 46,000 30,000 Unearned advertising 30,000 48,000 Wages payable 34,000 54,000 Insurance payable 10,000 12,000 What were advertising-related revenues for 2020? b. What was insurance expense for 2020? How much cash was paid out for wages during 2020? d. How much cash was collected for land rentals during 2020? a. c
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