Question
Zena Company's financial records showed the following selected items for 2015:Advertising receipts$300,000 Land rental revenues$950,000 Interest paid on borrowings$31,000 Wage expense$400,000 Zena follows the accrual
Zena Company's financial records showed the following selected items for 2015:Advertising receipts$300,000 Land rental revenues$950,000
Interest paid on borrowings$31,000 Wage expense$400,000
Zena follows the accrual basis of accounting.The following balances were taken from Zena's balance sheets:
12-31-1512-31-14
Advertising receivables28,00031,000
Prepaid advertising costs40,00032,000
Wages payable30,00045,000
Interest payable62,00050,000
Unearned land rental revenue45,00022,000
a.What were advertising-related revenues for 2015?
b.What was interest expense for 2015?
c.How much cash was paid out for wages and salaries during 2015?
d.How much cash was collected for land rentals during 2015?
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