Salary Payable at the beginning of the month totals $26,000. During the month, salaries of $125,000 were

Question:

Salary Payable at the beginning of the month totals $26,000. During the month, salaries of $125,000 were accrued as expense. If ending Salary Payable is $10,000, what amount of cash did the company pay for salaries during the month?

a. $141,000
b. $136,000
c. $89,000
d. $161,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

See More Books

Question Posted: Jun 13, 2019 09:21 AM

See More Questions

Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following independent cases affecting Castaway Corporation. Include an explanation for...
Westchester Consulting had the following selected transactions in May: May 1 ...... Prepaid insurance for May through July, $2,250. 4 .............. Purchased office furniture for cash, $4,000. 5...
The accounts of Huntley Digital Services Company prior to the year-end adjustments follow: Adjusting data at the end of the year include the following: a. Unearned service revenue that has been...
Suppose that the vice president of marketing asks you to write a program to create labels for a onetime advertising promotion. As IT manager, you know that the labels can be prepared more efficiently...
For each of the following homogeneous systems, find a set of basic solutions and express the general solution as a linear combination of these basic solutions. (a) x1 + 2x2 - x3 + 2x4 +x5=0 x1 + 2x2...
Solve the given systems of equations by using the inverse of the coefficient matrix. Use a calculator to perform the necessary matrix operations and display the results and the check. See Example 4....
Someone claims, Sure, an outlier in a small dataset can have a huge effect on results. But in a large dataset, its not a big deal, since one case out of 5,000 is not going to have that big of an...
Focus group research conducted by advertising agencies like Leo Burnett shows that Asias youngsters (the proverbial Xgeneration) mimic American trends, but at the same time, they are pretty...
1. Which of the following types of businesses do you expect to show the highest degree of seasonality in quarterly earnings? a. Fast Food Restaurants (e.g. McDonalds). b. Supermarkets and Grocery...
Pat is a single 28-year-old resident who works as a project manager in Perth. During the 2021/22 income year, Pat earned $92,000 in salary, from which his employer withheld $22,256 in tax under the...
Selected data for the Rubio Company follow: Based on these facts, what are Rubios current ratio and debt ratio? Current ratio .............. Debt ratio a. 1.200 ............................. 0.629 b....
Unadjusted net income equals $5,500. Calculate what net income will be after the following adjustments: 1. Salaries payable to employees, $510 2. Interest due on note payable at the bank, $90 3....
In 2010, Borden Formal Wear Inc. paid $100 million in dividends. Here are the comparative balance sheets for the latest two years. Required: (a) Prepare a horizontal and vertical analysis on the...
2. 1. The following are considered Financial Statements as per the Generally Accepted Accounting Principles (GAAP), except: a.) Profit & Loss Statement b.) Cash Flow Statement c.) Statement of...
In what ways do you feel prepared to use your communication skill after completing the assignment? If you don't feel prepared, share why.
Budgeted Activity Activity Cost Activity Base Casting $238,560 Machine hours Assembly 158,620 Direct labor hours Inspecting 24,090 Number of inspections Setup 52,540 Number of setups 43,200 Number of...
Business meeting simulation: Start with preparing an email and send it to all the participant of the meeting to inform about the meeting topic/ agenda/time of the meeting/ room #. Create a meeting...
Topic #1: Rayleigh-Ritz Method (RRM) Problem 1 a) Find the exact solution for the beam torsion problem shown above. The loading consists of a uniformly distributed torque m and a point torque M...
A phone company charges for service according to the formula: C(n) = 24 + 0.1n, where n is the number of minutes talked, and C(n) is the monthly charge, in dollars. Find and interpret the rate of...
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
What are the major advantages of the indirect method of reporting cash flows from operating activities?
What are the major advantages of the indirect method of reporting cash flows from operating activities?
What are the major advantages of the indirect method of reporting cash flows from operating activities?
Q1) The equity of Washington Ltd at 1 July 2020 consisted of: Share capital 500 000 A ordinary shares fully paid $1 500 000 400 000 B ordinary shares issued for $2 and paid to $1.50 600 000 General...
out The following information relates to Questions 1 to 2. The management accountant of a furniture manufacturer is developing a standard for the labour cost of one massage chair. When operating at...
Exercise 10-8 Utilization of a constrained Resource [LO10-5, L010-6] Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit...

Salary Payable at the beginning of the month totals $26,000. During the month, salaries of $125,000 were

Question:

Step by Step Answer:

a Payment Salar...View the full answer

Financial Accounting

Students also viewed these Business questions