Question - The balance sheets of Palle' Company include the following:
12/31/14 12/31/13
Interest Receivable $4,300 $ -0-
Supplies 5,000 3,900
Salaries and Wages Payable 3,700 3,800
Unearned Service Revenue -0- 4,000
The income statement for 2014 shows the following:
Interest Revenue $17,500
Service Revenue 78,700
Supplies Expense 10,700
Salaries and Wages Expense 48,000
Instructions:
Calculate the following for 2014:
1. Cash received for interest.
2. Cash paid for supplies.
3. Cash paid for salaries and wages.
4. Cash received for service revenue.