Teresa Company reported the following for the year of 2005: Salaries Expense . . . ....
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.
Homework Answers
Ending salary payable=Beginning salary payable+Salary expense-Cash paid for salaries
10600=6400+168000-Cash paid for salaries
Cash paid for salaries=6400+168000-10600
=$163,800.
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Teresa Company reported the following for the year of 2005: Salaries Expense . . . ....
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