Answer:
Interest received from customers
Interest receivable as at 31 Dec 2018 $640
Interest revenue 4,000
Interest receivable as at 31 Dec 2019 (1,300)
3,340
Computation of cash for Wages
Wages Payable as at 31 Dec 2018 $2,300
Wages expenses 9,200
wages payable as at 31 Dec 2019 (1,400)
10,100
Explanation:
Answer:
Cash flow financing activities:
Interest received 3,340
Cash flow operating Activities
Wages paid (10,100)
Explanation:
To obtain the actual amount paid we do a relationship between the income statement and the balance sheet.
the income statement will tell us about the total concept for interest or wages while the balance sheet will determinate the amount actually collected or paid:
Interest:
beginning balance + interest revenue = total interest the firm can collect
640 + 4000 = 4,640
The ending balance is the amount it didin't manage to collect therefomre no don involve cash:
4,640 - 1,300 = 3,340
Wages:
beginning balance + wages expense = total wages to pay
2,300 + 9,200 = 11,500
Then, we subtract from this figure th unpaid amount which is the ending balance
11,500 - 1,400 = 10,100
