Give me true answer this general accounting question At the end of 20x2, Crestline Corp. had accrued $4,500 insalaries expense. The company's beginning and endingSalaries Payable balances were $15,000 and $18,000,respectively. How much cash did Crestline Corp. pay onits Salaries Payable? If the ending Salaries Payablebalance had been $13,500, how much cash would thecompany have paid on the account?

Step 1: Define Cash Paid on Salaries PayableCash paid on salaries payable is the total amount of…

Answered: At the end of 20x2, Crestline Corp. had…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Gibson Company engaged in the following transactions for Year 1. The beginning cash balance was $28,100 and the ending cash balance was $74,991. 1. Sales on account were $283,100. The beginning receivables balance was $94,700 and the ending balance was $77,000. 2. Salaries expense for the period was $55,460. The beginning salaries payable balance was $3,815 and the ending balance was $2,180. 3. Other operating expenses for the period were $120,170. The beginning other operating expenses payable balance was $4,860 and the ending balance was $9,181. 4. Recorded $19,330 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $14,340 and $33,670, respectively. 5. The Equipment account had beginning and ending balances of $211,970 and $238,570, respectively. There were no sales of equipment during the period. 6. The beginning and ending balances in the Notes Payable account were $48,500 and $150,500, respectively. There were no payoffs of…
The following are some of the year-end balances of Tyagi Company: 20X120X0 Unbilled Revenue 1,800 2,100 Interest Receivable 680 570 Unearned revenue 1,600 1,100 Prepaid Rent 7,900 5,900 Salaries Payable 850 1,200 810 730 Interest Payable The cash flow statement for 20X1 has the following information: Fees received 21,710 Interest received 2,030 Rent paid 11,600 Salaries paid 6,820 Interest paid 1,840 Compute the following for 20X1: a) Fee revenue b) Interest income c) Rent expense d) Salaries expense
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What is Greenfield 's Sales Revenue under the accrual basis of accounting on these general accounting question?
York Company engaged in the following transactions for Year 1. The beginning cash balance was $86,000 and the ending cash balance was $59,100. 1. Sales on account were $548,000. The beginning receivables balance was $128,000 and the ending balance was $90,000. 2. Salaries expense for the period was $232,000. The beginning salaries payable balance was $16,000 and the ending balance was $8,000. 3. Other operating expenses for the period were $236,000. The beginning other operating expenses payable balance was $16,000 and the ending balance was $10,000. 4. Recorded $30,000 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $12,000 and $42,000, respectively. 5. The Equipment account had beginning and ending balances of $44,000 and $56,000, respectively. There were no sales of equipment during the period. 6. The beginning and ending balances in the Notes Payable account were $36,000 and $44,000, respectively. There were no payoffs of…
Saddleback Company paid off $39,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?
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Based on the following information, what is the amount of McKee Company’s income before income taxes, assuming the accrual method of accounting? Credit Sales totaled $320,000. Cash Sales totaled $414,000. Cash collected from customers for services not performed yet $93,000. Dividend Income $4,500. Cost of Goods Sold $336,000. Salaries Expense $50,000. Rent Expense $32,000. Other Operating Expenses $80,000. Interest Expense $21,000. Prepaid Rent $3,000. Gain on the sale of equipment $20,000. Group of answer choices $239,500 $332,500 $232,000 $236,000

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