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After adjusting entries had been made, the balance sheets of Ramiros Company showed the following asset and liability amounts at the end of 2009 and
After adjusting entries had been made, the balance sheets of Ramiros Company showed the following asset and liability amounts at the end of 2009 and 2010: 2010 2009 Prepaid insurance $2,400 $2,900 Wages payable 1,200 2,200 Unearned fees 4,200 1,900 The following amounts were taken from the 2010 income statement: Insurance expense $ 3,800 Wages expense 19,500 Fees earned 8,900 Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2010
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