The Bank Statements of Waylon Taylor Textiles Ltd $20 \times 7$

question 87

Multiple Choice

The bank statements of Waylon Taylor Textiles Ltd. for $20 \times 7$ included the following items:
$\begin{array}{|l|r|}\hline \text { Insurance premiums paid } & \$ 12,400 \\\hline \text { Interest collected } & \$ 25,900 \\\hline \text { Salaries paid } & \$ 125,200 \\\hline\end{array}$
The following balances have been excerpted from the company's Statement of Financial Position:
$\begin{array}{|l|r|r|}\hline & \text { December 31, 20X7 } & \text { December 31, 20X6 } \\\hline \text { Prepaid insurance } & \$ 1,400 & \$ 1,700 \\\hline \text { Accrued interest receivable } & \$ 3,700 & \$ 2,900 \\\hline \text { Accrued salaries payable } & \$ 12,300 & \$ 10,600 \\\hline\end{array}$
-How much insurance expense should WTT report on its 20X7 statement of earnings?

• A) $15,100
• B) $12,700
• C) $12,100
• D) $9,600

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Definitions:

Stress

Environmental and life events or stimuli that influence the development and onset of an illness or disorder.

Family Interactions

The dynamic relationships and communication patterns that occur among members of a family.

Risk

The potential for losing something of value or encountering harm or loss.

Major Depressive Episode

A period characterized by severely depressed mood or a loss of interest in activities, causing significant impairment in daily life, typically lasting for at least two weeks.