Use the following information to calculate cash paid for wages and salaries:
$$\begin{array} { | l | r | }
\hline \text { Salaries expense } & \$ 168,000 \
\hline \text { Salaries payable, January 1 } & 6,400 \
\hline \text { Salaries payable, December } 31 & 10,600 \
\hline
\end{array}$$
A) $157,400
B) $163,800
C) $168,000
D) $172,200
E) $174,400

Question

Use the following information to calculate cash paid for wages and salaries:
$$\begin{array} { | l | r | } 
\hline \text { Salaries expense } & \$ 168,000 \
\hline \text { Salaries payable, January 1 } & 6,400 \
\hline \text { Salaries payable, December } 31 & 10,600 \
\hline
\end{array}$$
A) $157,400
B) $163,800
C) $168,000
D) $172,200
E) $174,400

Quizplus · Accepted Answer

To calculate cash paid for wages and salaries, adjust the salaries expense by the change in salaries payable: $168,000 (salaries expense) + $6,400 (beginning payable) - $10,600 (ending payable) = $163,800.

Use the Following Information to Calculate Cash Paid for Wages