The amounts in the Salaries Payable account for Ammonia Company were $14,500 and $16,000 on December 31, 2019, and December 31, 2020, respectively. Cash paid to employees for the years ended December 31, 2019, and December 31, 2020, were $255,000 and $280,000, respectively. Ammonia Company's Salary Expense for the year ended December 31, 2020, was:
A) $253,500
B) $281,500
C) $256,500
D) $278,500

Question

Quizplus · Accepted Answer

The Answer of The amounts in the Salaries Payable account for Ammonia Company were $14,500 and $16,000 on December 31, 2019, and December 31, 2020, respectively. Cash paid to employees for the years ended December 31, 2019, and December 31, 2020, were $255,000 and $280,000, respectively. Ammonia Company's Salary Expense for the year ended December 31, 2020, was:
A) $253,500
B) $281,500
C) $256,500
D) $278,500

The Amounts in the Salaries Payable Account for Ammonia Company