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The income statement of Dolan Corporation for 2012 included the following items:
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  • Posted on: Mon 30 Jul, 2012
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Request Description

The income statement of Dolan Corporation for 2012 included the following items:

 

 

 

Interest revenue

$131,000

Salaries expense

170,000

Insurance expense

15,200

 

 

 

 

 

 

 

The following balances have been excerpted from Dolan Corporation's balance sheets:

 

 

 

 

December 31, 2012

December 31, 2011

Accrued interest receivable

$18,200

$15,000

Accrued salaries payable

17,800

8,400

Prepaid insurance

2,200

3,000

 

 

 

The cash paid for salaries during 2012 was

 

 

 

$161,600.

$179,400.

$160,600.

$187,800.

 

Solution Description

 

The income statement of Dolan Corporation for 2012 included the following items:

 

Interest revenue

$131,000

Salaries expense

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