Site Company had the following account balances related to payroll at the end of the period: $$\begin{array} { | l | r | }
\hline \text { CPP payable - employees' share } & 7,000 \
\hline \text { Liability for income taxes withheld } & 20,000 \
\hline \text { Salary and wage expense } & 95,000 \
\hline
\end{array}$$ Without considering any employer payroll taxes, Site would record Salaries Payable for the pay period amounting to which of the following?
A) $61,000
B) $68,000
C) $75,000
D) $95,000

Question

Site Company had the following account balances related to payroll at the end of the period: $$\begin{array} { | l | r | } 
\hline \text { CPP payable - employees' share } & 7,000 \
\hline \text { Liability for income taxes withheld } & 20,000 \
\hline \text { Salary and wage expense } & 95,000 \
\hline
\end{array}$$ Without considering any employer payroll taxes, Site would record Salaries Payable for the pay period amounting to which of the following?
A) $61,000
B) $68,000
C) $75,000
D) $95,000

Quizplus · Accepted Answer

The Answer of Site Company had the following account balances related to payroll at the end of the period: $$\begin{array} { | l | r | } 
\hline \text { CPP payable - employees' share } & 7,000 \
\hline \text { Liability for income taxes withheld } & 20,000 \
\hline \text { Salary and wage expense } & 95,000 \
\hline
\end{array}$$ Without considering any employer payroll taxes, Site would record Salaries Payable for the pay period amounting to which of the following?
A) $61,000
B) $68,000
C) $75,000
D) $95,000

Site Company Had the Following Account Balances Related to Payroll