University Press showed wage and salary expenses of $250,000 on its 2015 statement of comprehensive income but reported cash paid to employees of $215,000 on its statement of cash flows.If the beginning balance of accrued wages and salaries payable was $18,000,the ending balance is:

Question

Quizplus · Accepted Answer

The increase in accrued wages and salaries payable is equal to the difference between the wage and salary expenses and the cash paid to employees. Therefore, the ending balance of accrued wages and salaries payable is $250,000 - $215,000 + $18,000 = $53,000.

University Press Showed Wage and Salary Expenses of $250,000 on Its