Question
During 2011, Send Direct, Inc., incurred salary expenses of $67,500, as shown on the income statement. The January 1st 2011, balance sheet showed salaries payable
During 2011, Send Direct, Inc., incurred salary expenses of $67,500, as shown on the income statement. The January 1st 2011, balance sheet showed salaries payable of $10,350; and the December 31st, 2011, balance sheet showed salaries payable of $14,100. What adjustment to net income would be shown in the operating section of the statement of cash flows prepared using the indirect method related to this information, how much cash was paid to employees (for salary) during 2011?
What adjustment to income would be necessary to the operating section of the statement of cash flows?
Calculate the cash paid for salaries. Begin by selecting the formula, and then enter the amounts and calculate the cash paid for salaries.
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