Determination of Cash Flows
Biowizard90 (Not rated)
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After adjusting entries had been made, Infosys Company's balance sheets showed the following asset and liability amounts at the end of 2013 and 2014:
| 2014 | 2013 |
Prepaid insurance | $1,200 | $1,450 |
Wages payable | 600 | 1,100 |
Unearned fees | 2,100 | 950 |
The following amounts were taken from the 2014 income statement:
Insurance expense | $1,900 |
Wages expense | 9,750 |
Fees earned | 4,450 |
Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2014.
Cash payments for insurance during 2014: | $ [removed] |
Cash payments for wages during 2014: | $ [removed] |
Cash receipts from fees during 2014: | $ [removed] |
11 years ago
Determination of Cash Flows
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