If a company has no Salaries and Wages Payable on its balance sheet,then one may conclude that:
A) there are salaries and wages to be paid in next period.
B) no salaries and wages were paid in the current period.
C) Salaries and Wages Expense was greater than the cash paid for wages during the period.
D) the salaries and wages were paid in advance.

Question

Quizplus · Accepted Answer

Salaries and Wages Payable represents the amount of salaries and wages earned by employees but not yet paid by the company as of the end of the accounting period. If there is no balance in this account on the balance sheet, it means that no salaries and wages were earned or unpaid during the current period. Therefore, choice B is the best answer.

If a Company Has No Salaries and Wages Payable on Its