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

question 92

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 interest revenue should WTT report on its 20X7 statement of earnings?

• A) $19,300
• B) $25,100
• C) $32,500
• D) $26,700

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Definitions:

Tailored Transportation

Customized transportation solutions designed to meet the specific needs of a business or supply chain.

Transportation Networks

The interconnected systems and infrastructure, including roads, railways, airways, and waterways, that facilitate the movement of people, goods, and services.

Product Characteristics

Attributes or features that define a product and affect its performance or desirability.

Mode of Transportation

Different methods used for moving people or goods from one place to another, such as road, rail, air, or sea.