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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
e12A. Business appliCation ▶ Wipro Company’s income statement included the following expenses for 2014:
Â
Â
|
Rent expense |
$ Â 78,000 |
|
Interest expense |
11,700 |
|
Salaries expense |
124,500 |
The related balance sheet account balances at year end for last year and this year follow.
Â
|
 |
Last year |
this year |
|
Prepaid rent |
— |
$ 1,350 |
|
Interest payable |
$1,800 |
— |
|
Salaries payable |
7,500 |
18,000 |
1.   Compute the cash paid for rent during the year.
2.   Compute the cash paid for interest during the year.
3.   Compute the cash paid for salaries during the year.
Â
Â
Â
Â
Â
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