Longbottom Company reported the following balances in the Wages Payable account:
If cash paid for wages during 2019 was $168,000, what was the wages expense reported on the 2019 income statement?

Question

Longbottom Company reported the following balances in the Wages Payable account:
 If cash paid for wages during 2019 was $168,000, what was the wages expense reported on the 2019 income statement?

Quizplus · Accepted Answer

Beginning Wages Payable + Wages expense - Cash paid = Ending Wages Payable
$9,000 + X - $168,000 = $18,000
X = $18,000 - $9,000 + $168,000 = $177,000 = Wages Expense

Longbottom Company Reported the Following Balances in the Wages Payable