A firm reported wages expense of $380 million and cash paid for wages of $335 million. What was the change in wages payable for the period? Options: a) $45 million increase b) $55 million decrease c) $35 million increase d) $50 million decrease

A firm reported wages expense of $380 million and cash paid for wages of $335 million. What was the change in wages payable for the period? Options: a) $45 million increase b) $55 million decrease c) $35 million increase d) $50 million decrease

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 6RE: Suppose that Blake Companys total pretax difference from a change to FIFO was 100,000 and the...

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Question

Choice best answer please

A firm reported wages expense of $380 million and cash paid for wages of $335 million.
What was the change in wages payable for the period?
Options:
a) $45 million increase
b) $55 million decrease
c) $35 million increase
d) $50 million decrease

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