QUESTION 3 The following year-end totals were taken from the records of Langston Company. Langston Company Year-End Totals 2017 2016 Prepaid insurance $8,000 $5,200 Wages payable 7,000 0 Insurance expense 4,000 5,700 Wage expense 9,500 4,000 What is the amount of cash outflow associated with insurance during 2017? $4,000 $2,800 $1,700 $6,800 None of these choices is correct.
QUESTION 3 The following year-end totals were taken from the records of Langston Company. Langston Company Year-End Totals 2017 2016 Prepaid insurance $8,000 $5,200 Wages payable 7,000 0 Insurance expense 4,000 5,700 Wage expense 9,500 4,000 What is the amount of cash outflow associated with insurance during 2017? $4,000 $2,800 $1,700 $6,800 None of these choices is correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 3
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The following year-end totals were taken from the records of Langston Company.
Langston Company Year-End Totals2017 2016 Prepaid insurance $8,000 $5,200 Wages payable 7,000 0 Insurance expense 4,000 5,700 Wage expense 9,500 4,000 What is the amount of
cash outflow associated with insurance during 2017?$4,000
$2,800
$1,700
$6,800
None of these choices is correct.
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