During the year 2024 a company paid cash for their employees salaries amounting to $100,500. The year-end balances in the salaries payable account were $34,000 at December 31. 2023 and $36,000 at December 31. 2024. Determine the amount of "Salary Expense" the company would report on its 2024 Income Statement: a) $92,000 b) $110,000 c) $88,000 d) $102,500
During the year 2024 a company paid cash for their employees salaries amounting to $100,500. The year-end balances in the salaries payable account were $34,000 at December 31. 2023 and $36,000 at December 31. 2024. Determine the amount of "Salary Expense" the company would report on its 2024 Income Statement: a) $92,000 b) $110,000 c) $88,000 d) $102,500
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 17PB
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Transcribed Image Text:During the year 2024 a company paid cash for their
employees salaries amounting to $100,500. The year-end
balances in the salaries payable account were $34,000 at
December 31. 2023 and $36,000 at December 31. 2024.
Determine the amount of "Salary Expense" the company
would report on its 2024 Income Statement:
a) $92,000
b) $110,000
c) $88,000
d) $102,500
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