112 walker company uses the accrual basis of accounting walker company 39 s wages ex 4313991

112.Walker Company uses the accrual basis of accounting. Walker Company's wages expense account had a $610,000 balance at the end of the year. The wages payable account had a $23,000 balance at the beginning of the year and a $45,000 balance at the end of the year. How much cash was paid for wages during the year?

113.Slater Company uses the cash basis of accounting. Slater Company collected $950,000 from its customers during 2015. Customers owed Slater $150,000 of accounts receivable at the beginning of 2015, and $190,000 of accounts receivable at the end of 2015. What is Slater's sales revenue for 2015 under the accrual basis of accounting?

114.Merry Company uses the cash basis of accounting. Merry Company made $600,000 in payments to its suppliers during the year. Merry's beginning inventory was $20,000, and its ending inventory was $35,000. In addition, Merry had a beginning accounts payable of $40,000 and an ending accounts payable of $70,000. What is Merry’s cost of goods sold under the accrual basis of accounting?

115Joseph, Inc. uses the accrual basis of accounting. Joseph's insurance expense account had a $23,000 balance at the end of the year. The prepaid insurance account had a $6,000 balance at the beginning of the year and a $3,000 balance at the end of the year. How much cash was paid for insurance during the year?

116Little Company uses the cash basis of accounting. Little Company made $28,000 in payments to its suppliers during the year. Little’s beginning inventory was $2,000, and its ending inventory was $1,000. In addition, Little had a beginning accounts payable of $7,000 and an ending accounts payable balance of $4,000. What is Little's cost of goods sold under the accrual basis of accounting?

117.Under cash-basis accounting,

118.When a company uses cash-basis accounting, it frequently does not keep up with

119.Cash-basis accounting as a basis for preparing financial statements is

120.Several accounts are listed below:

Required:
List the accounts above that would normally have a credit balance.

121.Several accounts are listed below:

Required:
List the accounts above that would normally have a debit balance.