Question

-From the Income Statement and Balance Sheet information listed?below, what amount of cash was paid for...

-From the Income Statement and Balance Sheet information listed?below, what amount of cash was paid for salaries and wages during? 2016?

Salaries and wages expense

2016

$217,000

Salaries and wages payable

?12/31/15

$16,600

Salaries and wages payable

?12/31/16

$$13,300

A.

$246,900

B.

$213,700

C.

$220,300

D.

$200,400

If $7,000 was generated from operations? (indirect method);$3,000

was used for investing? activities; and $6,000 was generated from financing? activities, the cash? balance:

A.

decreased by $16,000.

B.

increased by $4,000.

C.

increased by $10,000.

D.

increased by $6,000.

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Homework Answers

Answer #1
1 Answer C 220,300
Salaries and wages payable 12/31/15                      16,600
Salaries and wages expense                   2,17,000
Salaries and wages payable 12/31/16                      13,300
Cash Paid (Opening + Current year Expenses - Closing)
16600 + 217000 - 13300                   2,20,300
2 Answer C.Increased by $10,000
Cash generated from operations                         7,000
Cash Used for investing? activities                      (3,000)
Cash generated from Financing activity                         6,000
Cash Balance increase                      10,000
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