Use the following information to answer the following questions. Assuming no employees are subject to ceilings for their earnings, Jensen Company has the following information for the pay period of January 15 - 31, 20xx.
Salaries Payable would be recorded in the amount of:
A) $8,500
B) $7,130
C) $7,670
D) $7,750

Question

Use the following information to answer the following questions. Assuming no employees are subject to ceilings for their earnings, Jensen Company has the following information for the pay period of January 15 - 31, 20xx.
 Salaries Payable would be recorded in the amount of:
A) $8,500 
B) $7,130 
C) $7,670 
D) $7,750

Quizplus · Accepted Answer

To calculate the total Salaries payable amount, we need to add up the salaries of all employees without any ceiling for their earnings.
Total Salaries payable = Salary of employee 1 + Salary of employee 2 + Salary of employee 3 + Salary of employee 4
= $2,000 + $1,800 + $1,750 + $2,200
= $7,750
Therefore, the amount recorded in Salaries Payable would be $7,750. Hence, the correct answer is D.

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