Question

QUESTION 30 This fact pattern provides information for Q#30 and Q#31. Salaries Expense for Year 2 was $54. Prepaid Salaries at Dec 31, Years 1, 2 and 3, respectively, were $3,$5 and $4. Salaries Payable at Dec 31, Years 1, 2 and 3, respectively, were ?, $11 and $7. Cash paid for salaries in Year 2 was $48. Cash paid for salaries in Year 3 was $59. Enter positive values without '' signs, without 's' signs and without commas. Click Save and Submit to save and submit. Click Save All Answers to sow all answers hu Bo 888 F PIN $ 4 % 5 & 7 6 8 E R T Y U O F I J K к с V B N. M.

31

Answer 1

Salaries expense for year 3

Cash Paid for Salaries (Year 3) = $ 59

Add : Salaries payable (Year 3) = $ 7

Less : Prepaid Salaries (Year 3) =  $ 4  

Salaries expense for year 3 $ 62