RST paid $120 000 in wages during the year.The opening balance of accrued wages was $7860 and the closing balance was $8870.What was the wages expense for the year?

Name: RST paid $120 000 in wages during the year.The opening balance of accrued wages was $7860 and the closing balance was $8870.What was the wages expense for the year?
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Quizplus · Accepted Answer

The wages expense is calculated as: Opening accrued wages + Wages paid - Closing accrued wages = $7860 + $120,000 - $8870 = $121,010.

RST Paid $120 000 in Wages During the Year