Wipro Companys income statement included the following expenses for 2014 Rent expense $ 78,000 Interest expense 11,700 Salaries expense 124,500 The related balance sheet account balances at year end for last year and this year follow 1 Compute the cash paid for rent during the year 2 Compute the ca...

1 Cash paid for rent during the year 79350 Ending balanc ...

Wipro Companys income statement included the following expenses for 2014: Rent expense ......... $ 78,000 Interest expense

Question:

Wipro Company€™s income statement included the following expenses for 2014:
Rent expense ......... $ 78,000
Interest expense ....... 11,700
Salaries expense ....... 124,500
The related account balances at year end for last year and this year follow.

1. Compute the cash paid for rent during the year.
2. Compute the cash paid for interest during the year.
3. Compute the cash paid for salaries during theyear.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...