Wade Company reported wages expense of $32,000 during the year. The beginning balance in Wages Payable was $1,200, and at the end of the year, the balance in Wages Payable was $1,700. What was the amount of cash paid for employee wages during the year?

Question

Quizplus · Accepted Answer

The cash paid for wages is calculated as: Wages Expense ($32,000) + Beginning Wages Payable ($1,200) - Ending Wages Payable ($1,700) = $31,500.

Wade Company Reported Wages Expense of $32,000 During the Year