Determination of Cash Flows e11A. Business appliCation ? After adjusting entries had been made,… 1 answer below »

Determination of Cash Flows

e11A. Business appliCation ▶ After adjusting entries had been made, Infosys Com- pany’s balance sheets showed the following asset and liability amounts at the end of 2013  and 2014:

 

 

 

 

(Continued)

 

 

 

 

 

 

 

 

 

 

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.

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