Answer:
Cash paid to employees is $425,000
Explanation:
Account payable is an account which contains the balance of accrued wages that is payable to employee. Employees are paid through this account because expense has already been incurred.
Closing value of salaries payable = opening balance of salaries payable + Salaries expense for the year - cash paid to employees
Closing value of salaries payable - opening balance of salaries payable = Salaries expense for the year - cash paid to employees
Decrease in the account balance is the difference of opening balance and closing balance of account payable
-11,000 = $414,000 - cash paid to employees
Cash paid to employees = $414,000 + $11,000
Cash paid to employees = $425,000
