Question
Please explain how you get the answer using T account Use the following for questions 9-11 - The income statement of Dolan Corporation for 2018
Please explain how you get the answer using T account
Use the following for questions 9-11 - The income statement of Dolan Corporation for 2018 included the following items:
Interest revenue $131,000
Salaries and wages expense 170,000
Insurance expense 15,200
The following balances have been excerpted from Dolan Corporation's balance sheets:
December 31, 2018 December 31, 2017
Interest receivable $18,200 $15,000
Salaries and wages payable 17,800 8,400
Prepaid insurance 2,200 3,000
9. *99. The cash received for interest during 2018 was
a. $112,800. b. $127,800. c. $131,000. d. $134,200.
10.*100. The cash paid for salaries during 2018 was
a. $179,400. b. $160,600. c. $161,600. d. $187,800.
11.*101. The cash paid for insurance premiums during 2018 was
a. $13,000. b. $12,200. c. $16,000. d. $14,400.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started