13 Yee's payments for the year ended 31 December 20-8 included the following: Wages 000 89 2400 Insurance (for 12 months to 30 June 20-9) At 1 January 20-8, wages due amounted to $1300 and insurance prepaid amounted to $1140. At 31 December 20-8, wages due amounted to $1550. Write up the wages account and the insurance account as they would appear in Yee's ledger for the year ended 31 December 20-8. Balance the accounts and show the amounts transferred to the income statement.

13 Yee's payments for the year ended 31 December 20-8 included the following: Wages 000 89 2400 Insurance (for 12 months to 30 June 20-9) At 1 January 20-8, wages due amounted to $1300 and insurance prepaid amounted to $1140. At 31 December 20-8, wages due amounted to $1550. Write up the wages account and the insurance account as they would appear in Yee's ledger for the year ended 31 December 20-8. Balance the accounts and show the amounts transferred to the income statement.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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