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CERISE Company uses accrual basis of accounting. Wages expense account had a balance of $255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively.

CERISE Company uses accrual basis of accounting. Wages expense account had a balance of $255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively.

FINANCIAL ACCOUNTING
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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How much cash was paid for wages during the year?

CERISE Company uses accrual basis of accounting. Wages expense account had a balance of $255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively.
Transcribed Image Text:CERISE Company uses accrual basis of accounting. Wages expense account had a balance of $255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively.
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