A company reported Salaries and Wages Payable of $795 at the beginning of the ye

Question

A company reported Salaries and Wages Payable of $795 at the beginning of the year and $2,590 at the end of the year. The income statement for the year reported Salaries and Wages Expense of $57,100. How much cash was paid for salaries and wages during the year?

$57,100

$55,305

$54,510

$53,715

A company reported Salaries and Wages Payable of $795 at the beginning of the year and $2,590 at the end of the year. The income statement for the year reported Salaries and Wages Expense of $57,100. How much cash was paid for salaries and wages during the year?

Explanation / Answer

$55,305

salary expenses 57100

less: salary payable at end 2590

add: salary payable at beginning 795

cash paid as salary 55305   

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