The following selected account balances we re taken from Buckeye Company's general ledger at Januar y...
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The following selected account balances we re taken from Buckeye Company's general ledger at Januar y 1, 2025 and December 31, 2025: January 1 Dec ember 31 Accounts payable $ 25,000 17,000 Accounts receivable $ 42,000 36,000 Common stock 180,000 Inventory $110,000 $ 25,000 A A 28,000 Investments $ 43,000 SA 45,000 Land $ 60,000 73,000 Notes payable $100,000 60,000 Retained earnings $ 40,000 98,000 Salaries payable $ 19,000 SA SA A 11,000 Buckeye Company's 2025 income statement is given below: Sales revenue $420,000 Cost of goods sold $296,000 Salaries expense $ 93,000 Gain on sale of investments $ 32,000 $ 63,000 Net income During 2025 Buckeye Company paid $38,000 c ash to purchase investments. Calculate the amount of cash paid to emplo yees for salaries during 2025. The following selected account balances we re taken from Buckeye Company's general ledger at Januar y 1, 2025 and December 31, 2025: January 1 Dec ember 31 Accounts payable $ 25,000 17,000 Accounts receivable $ 42,000 36,000 Common stock 180,000 Inventory $110,000 $ 25,000 A A 28,000 Investments $ 43,000 SA 45,000 Land $ 60,000 73,000 Notes payable $100,000 60,000 Retained earnings $ 40,000 98,000 Salaries payable $ 19,000 SA SA A 11,000 Buckeye Company's 2025 income statement is given below: Sales revenue $420,000 Cost of goods sold $296,000 Salaries expense $ 93,000 Gain on sale of investments $ 32,000 $ 63,000 Net income During 2025 Buckeye Company paid $38,000 c ash to purchase investments. Calculate the amount of cash paid to emplo yees for salaries during 2025.
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Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
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