A company reported the following information: $\begin{array}{ll}
\text {Salaries payable, December 31,2014 } &\$ 20,000 \
\text { Salaries payable, December 31, 2013 } &15,000 \
\text { Salaries expense for 2014 } &80,000
\end{array}$ How much cash was paid for salaries during 2014?
A)$60,000
B)$65,000
C)$75,000
D)$85,000

Question

A company reported the following information: $\begin{array}{ll}
 \text {Salaries payable, December 31,2014  } &\$ 20,000 \
 \text { Salaries payable, December 31, 2013 } &15,000 \
 \text { Salaries expense for 2014 } &80,000
\end{array}$ How much cash was paid for salaries during 2014?
A)$60,000
B)$65,000
C)$75,000
D)$85,000

Quizplus · Accepted Answer

The cash paid for salaries is calculated as: Salaries expense for 2014 ($80,000) + Salaries payable at the beginning of the year ($15,000) - Salaries payable at the end of the year ($20,000) = $75,000.

A Company Reported the Following Information How Much Cash Was Paid for Salaries During 2014? A)$60,000

A Company Reported the Following Information How Much Cash Was Paid for Salaries During 2014?
A)$60,000