Question - After adjusting entries had been made, the balance sheets of Ramiro's 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.