BLP Corporation reported wages expense of $224,000,wages payable of $89,400 at the beginning of the year,and wages payable of $71,300 at the end of the year.Cash payments for wages during the year were:

Question

Quizplus · Accepted Answer

To calculate cash payments for wages during the year, we need to adjust the beginning and ending wages payable. Therefore, we can use the following formula:
Cash payments for wages = Wages expense + Beginning wages payable - Ending wages payable
Cash payments for wages = $224,000 + $89,400 - $71,300
Cash payments for wages = $242,100
Therefore, the best choice is C, which corresponds to the calculated amount.

BLP Corporation Reported Wages Expense of $224,000,wages Payable of $89,400