On January 1, 2021, Wages Payable for Orion Systems was $45,000. Wages Expense for 2021 totalled $390,000. The ending balance of Wages Payable was $51,000. What is the amount of cash paid for wages in 2021? a. $396,000 b. $390,000 c. $384,000 d. $402,000

On January 1, 2021, Wages Payable for Orion Systems was $45,000. Wages Expense for 2021 totalled $390,000. The ending balance of Wages Payable was $51,000. What is the amount of cash paid for wages in 2021? a. $396,000 b. $390,000 c. $384,000 d. $402,000

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 9SPB

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I need the correct answer to this financial accounting problem using the standard accounting approach.

On January 1, 2021, Wages Payable for Orion Systems was $45,000.
Wages Expense for 2021 totalled $390,000. The ending balance of Wages Payable
was $51,000.
What is the amount of cash paid for wages in 2021?
a. $396,000
b. $390,000
c. $384,000
d. $402,000

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