(Calculate cash payments made to employees using direct method, LO 4) In its August 31, 2005 annual...
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(Calculate cash payments made to employees using direct method, LO 4) In its August 31, 2005 annual report, Pitquah Corp. (Pitquah) reported Wages Payable on August 31, 2004 of $175,000, and Wages Payable on August 31, 2005 of $225,000.
Pitquah’s income statement reports Wages Expense of $2,346,000.
Required:
Calculate the amount of cash that Pitquah paid in wages to employees in fiscal 2005.
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