RST paid $120 000 in wages during the year.The opening balance of Accrued Wages was $7860 and the closing balance was $8870.What was the wages expense for the year?

Question

Quizplus · Accepted Answer

The wages expense for the year can be calculated by adding the opening balance of accrued wages to the total wages paid during the year and then subtracting the closing balance of accrued wages. This gives us $120,000 + $7,860 - $8,870 = $121,010.

RST Paid $120 000 in Wages During the Year