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Crosby Inc. reported wages expense of $290 million, while it actually paid $240 million in cash for wages. What was the change in wages payable?

Crosby Inc. reported wages expense of $290 million, while it actually paid $240 million in cash for wages. What was the change in wages payable?

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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I need assistance with this financial accounting question using appropriate principles.

Crosby Inc. reported wages expense of $290 million, while it actually paid $240 million in cash for wages. What was the change in wages payable?
Transcribed Image Text:Crosby Inc. reported wages expense of $290 million, while it actually paid $240 million in cash for wages. What was the change in wages payable?
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