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On January 1, 2015, Wages Payable was $32,000. Wages Expenses for 2015 totaled $320,000. The ending balance of Wages Payable was $44,000. What is the amount of cash paid for wages in 2015? a. $352,000 b. $320,000 c. $288,000 d. $308,000

On January 1, 2015, Wages Payable was $32,000. Wages Expenses for 2015 totaled $320,000. The ending balance of Wages Payable was $44,000. What is the amount of cash paid for wages in 2015? a. $352,000 b. $320,000 c. $288,000 d. $308,000

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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On January 1, 2015, Wages Payable was $32,000. Wages Expenses for 2015 totaled $320,000. The ending balance of Wages Payable was $44,000. What is the amount of cash paid for wages in 2015? a. $352,000 b. $320,000 c. $288,000 d. $308,000
Transcribed Image Text:On January 1, 2015, Wages Payable was $32,000. Wages Expenses for 2015 totaled $320,000. The ending balance of Wages Payable was $44,000. What is the amount of cash paid for wages in 2015? a. $352,000 b. $320,000 c. $288,000 d. $308,000
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