Use the following information to calculate cash paid for wages and salaries: $\begin{array}{lr}
\text {Salaries expense }&\$168,000\
\text {Salaries payable, January 1 }&6,400\
\text {Salaries payable, December 31 }&10,600\
\end{array}$

A)$157,400.
B)$163,800.
C)$168,000.
D)$172,200.
E)$174,400.

Question

Use the following information to calculate cash paid for wages and salaries: $\begin{array}{lr}
\text {Salaries expense }&\$168,000\
\text {Salaries payable, January 1 }&6,400\
\text {Salaries payable, December 31 }&10,600\
\end{array}$

A)$157,400.
B)$163,800.
C)$168,000.
D)$172,200.
E)$174,400.

Quizplus · Accepted Answer

To calculate cash paid for wages and salaries, use the formula: Salaries Expense + Beginning Salaries Payable - Ending Salaries Payable = Cash Paid. Thus, $168,000 + $6,400 - $10,600 = $163,800.

Use the Following Information to Calculate Cash Paid for Wages