Computing Revenue and Expenses from Cash Receipts and Payments.
The following are some of the year end balances of Tyagi Company:
|
20X1 |
20X0 |
|
|
Unbilled Revenue Interest Receivable Unearned revenue Prepaid Rent Salaries Payable Interest Payable |
` 1,800 680 1,600 7,900 850 810 |
` 2,100 570 1,100 5,900 1,200 730 |
The cash flow statement for 20X1 has the following information:
|
Fees received |
21,710 |
|
Interest received |
2,030 |
|
Rent paid |
11,600 |
|
Salaries paid |
6,820 |
|
Interest paid |
1,840 |
Compute the following for 20X1:
(a) Fee revenue
(b) Interest income
(c) Rent expense
(d) Salaries expense
(e) Interest expense