QUESTION 27 WU COMPANY December 31 Selected Balance Sheet account balances are:

Question

QUESTION 27 WU COMPANY December 31 Selected Balance Sheet account balances are: 2012 $ 37,000 32,000 192,000 7,000 85,000 63,000 98,000 28,000 1,000 Cash 26,000 220, ounts Payable unts Receivable Salaries Payable Land Merchandise Inventory Machineny Prepaid Rent Income Taxes Payable 13,000 70,000 76,000 72,000 17,00 4,00 Selected Income Statement and other items for the year 2012 are: Sales Cost of Goods Sold Salary Expense Gain on Sale of Machine Cash Dividends declared and paid Depreciation Expense Rent Expense Income Taxes Expense Cash payments for salaries during 2012 amounted to: O $210,000. O $ 206,000. O $ 200,000. O $ 194,000. O none of the above. 943,000 504,000 200,000 30,000 20,000 54,000 90,000 35,000

Explanation / Answer

Answer is $ 206000 Explanation: Salaries expense in Income Statement 200000 Add: Payable in the beginning 13000 Less: payable at the end 7000 Salaries expense paid 206000

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