2019 2020 2019 2020 Cash $1,300 $1,100 Accounts payable $2,100 $2,900 Accounts receivable $4,100 $4,400 Utilities payable $200 $450 Inventory $7,500 $8,800 Salaries payable $800 $1,80C Prepaid insurance $1,200 $1,500 Notes payable $18,000 $15,000 Equipment $16,000 $16,000 Interest payable $2,300 $2,600 Accum. depreciation ($2,400) ($3,600) Common stock $6,000 $6,000 Land $4,500 $9.200 Retained earnings $2,800 $8.650 $32,200 $37,400 $32,200 $37,40C Given the above information, how much cash was paid for depreciation during 2020? O $1,200 $0 O $3,600 O $2,400 $6,000
2019 2020 2019 2020 Cash $1,300 $1,100 Accounts payable $2,100 $2,900 Accounts receivable $4,100 $4,400 Utilities payable $200 $450 Inventory $7,500 $8,800 Salaries payable $800 $1,80C Prepaid insurance $1,200 $1,500 Notes payable $18,000 $15,000 Equipment $16,000 $16,000 Interest payable $2,300 $2,600 Accum. depreciation ($2,400) ($3,600) Common stock $6,000 $6,000 Land $4,500 $9.200 Retained earnings $2,800 $8.650 $32,200 $37,400 $32,200 $37,40C Given the above information, how much cash was paid for depreciation during 2020? O $1,200 $0 O $3,600 O $2,400 $6,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:2019
2020
2019
2020
Cash
$1,300
$1,100
Accounts payable
$2,100
$2,900
Accounts receivable
$4,100
$4,400
Utilities payable
$200
$450
Inventory
$7,500
$8,800
Salaries payable
$800
$1,80C
Prepaid insurance
$1,200
$1,500
Notes payable
$18,000
$15,000
Equipment
$16,000 $16,000
Interest payable
$2,300
$2,600
Accum. depreciation
($2,400) ($3,600)
Common stock
$6,000
$6,000
Land
$4,500
$9,200
Retained earnings
$2,800
$8,650
$32,200 $37,400
$32,200 $37,40C
Given the above information, how much cash was paid for depreciation during 2020?
O $1,200
$0
O $3,600
$2,400
$6,000
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