Company J
A company reported the following information:
$\begin{array}{llr}
\text { Salaries payable, December 31 , Year 2 } &\$20,000\
\text { Salaries payable, December 31, Year 1} &15,000\
\text { Salaries expense for Year 2 } &80,000
\end{array}$

-Refer to the figure Company J.How much cash was paid for salaries during Year 2?

Question

Company J
A company reported the following information:
 $\begin{array}{llr}
  \text { Salaries payable, December 31 , Year 2 } &\$20,000\
 \text {  Salaries payable, December 31, Year 1} &15,000\
 \text { Salaries expense for Year 2 } &80,000
\end{array}$

-Refer to the figure Company J.How much cash was paid for salaries during Year 2?

Quizplus · Accepted Answer

The cash paid for salaries is calculated as: Salaries expense + Salaries payable at the beginning of the year - Salaries payable at the end of the year = $80,000 + $15,000 - $20,000 = $75,000.

Company J a Company Reported the Following Information -Refer to the Figure Company J

Company J
a Company Reported the Following Information -Refer to the Figure Company J