contestada

O’Bryan Company began the year with a balance of $18,000 in Salaries and Wages Payable and ended the year with $11,000 in the account. Salaries and Wages Expense for the period amounted to $91,000. Under the direct method, O’Bryan will report cash payments for salaries and wages of:
$84,000
$102,OOO
$109,000
$98,000

Respuesta :

Answer:

cash payments for salaries and wages = $98,000

correct option is $98,000

Explanation:

given data

began salaries payable = $ 18,000

closing salaries payable = $ 11,000

Entity incurred expense = $ 91,000

to find out

O’Bryan will report cash payments for salaries and wages

solution

we get here cash payments for salaries and wages that is express as

cash payments for salaries and wages = began salaries payable - closing salaries payable +  Entity incurred expense     ..................1

put here value we get

cash payments for salaries and wages = $18000 - $11000 + $91000

cash payments for salaries and wages = $98,000

correct option is $98,000

Otras preguntas