University Press showed wage and salary expenses of $250,000 on its 2014 statement of comprehensive income but reported cash paid to employees of $215,000 on its cash flow statement. If the beginning balance of accrued wages and salaries payable was $18,000, the ending balance is?

Question

Quizplus · Accepted Answer

Accrued wages and salaries payable = Beginning balance + (Wage and salary expenses - Cash paid to employees)= 18,000 + (250,000 - 215,000)= 18,000 + 35,000= $53,000

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