Use the following information to calculate cash paid for wages and salaries: Salaries expense Salaries payable,...
Use the following information to calculate cash paid for wages and salaries: Salaries expense: $167,938 Salary Payable Jan. 1st: 7,000 Salary Payable Jan 31st: 11,800
Use the following information to calculate cash paid for income taxes: Income tax expense Income tax payable, January 1 Income tax payable, December 31 $50,000 9,000 7,000
Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold Merchandise inventory, January 1 $550,000 90,000 Merchandise inventory, December 31 Accounts payable, January 1 Accounts payable, December 31 187,000 78,000 65,000 Multiple Choice $640,000 $580,000
Eagle Company reported Salaries and Wages Payable of $825 at the beginning of the year and $2,650 at the end of the year. The income statement for the year reported Salaries and Wages Expense of $57,700. How much cash was paid for salaries and wages during the year? Multiple Choice $55,875 O $55,050 $54,225 O $57,700
6) Salaries and Wages Expense appears on the while Salaries and Wages Payable is a(n): A) Balance sheet: expense on the balance sheet B) Balance sheet: liability on the income statement C) Income statement: liability on the balance sheet D) Income statement: expense on the income statement 7) In addition to requiring that the accounting equation remain in balance, the double-entry system also requires that: A) the total dollar amount of debits must equal the total dollar amount of credits....
The balance sheets of Red House Painters include the following: Interest Receivable Supplies Salaries and Wages Payable Unearned Service Revenue 21/31/18 21/31/17 $0 $4,300 3,000 5,000 3,800 5,600 4,000 0 The income statement for 2018 shows the following: Interest Revenue $18,400 Service Revenue 72,700 Supplies Expense 8,700 Salaries and Wages Expense 39,000 Calculate the following for 2018: 1. Cash received for interest. $ $ 2. Cash paid for supplies. 3. Cash paid for salaries and wages. $ The income statement...
Teresa Company reported the following for the year of 2005: Salaries Expense . . . . . . . . . . . . . . . $168,000 Salaries Payable, January 1 . . . . . . . . . .6,400 Salaries Payable, December 31 . . . . . . 10,600 Calculate the cash paid for salaries in 2005: A) $157,400. B) $174,400. C) $168,000. D) $172,200. E) $163,800.
(c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ (d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2021? Balance in Unearned Service Revenue at December 31, 2021 $ e Textbook and Media This is a partial adjusted trial balance of Ramon...
At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $21,000. Employees have been paid for work done up to December 27, but the $1,300 they have earned for December 28–31 has not yet been paid or recorded. Required: points 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report...
The following information is taken from the 2022 general ledger of Crane Company. Rent Rent expense Prepaid rent, January 1 Prepaid rent, December 31 $ 90,000 17,700 22,200 Salaries Salaries and wages expense Salaries and wages payable, January 1 Salaries and wages payable, December 31 $ 162,000 6 ,000 24,000 Sales Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 $480,000 48,000 21,000 In each case, compute the amount that should be reported in the operating activities section of...