Zena Company’s financial records showed the following selected items for 2015: Advertising receipts $650,000 Land rental revenues $520,000 Interest paid on...

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Accounting

Zena Company’s financial records showed the following selecteditems for 2015:
Advertising receipts
$650,000
Land rental revenues
$520,000
Interest paid on borrowings
$100,000
Wage expense
$190,000
Zena follows the accrual basis of accounting. The followingbalances were taken from Zena’s balance sheets:
12-31-14
12-31-15
Advertising receivables
20,000
25,000
Prepaid advertising costs
50,000
44,000
Unearned land rental revenue
46,000
53,000
Unearned advertising
30,000
38,000
Wages payable
34,000
25,000
Interest payable
60,000
70,000
a.
What were advertising-related revenues for 2015?
b.
What was interest expense for 2015?
c.
How much cash was paid out for wages and salaries during2015?
d.
How much cash was collected for land rentals during 2015?

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Answer to Part a Advertising Revenue Advertising Receipts Increase in Advertising Receivables Increase in Unearned Advertising Increase in Advertising Receivables 25000 20000 5000 Increase in See Answer

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