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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
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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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
Transcribed Image Text: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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