5. Calculate cash paid for salaries

LO3 Calculate the cash paid:

i. Salaries expense was $250 000 for the year. During the year salaries payable increased $25 000.

ii COGS was $980 000. Inventory at the beginning of the year was $66 000 and ending inventory $85 000.

iii Rent expense $99 000. Opening balance of prepaid rent $8000, closing balance $9000.

REQUIRED Determine the amount of cash paid for salaries, inventory and rent during the year.