On January 1, 2022, Reliable Corp. reported Wages Payable of $25,000. Wages Expenses for 2022 totalled $400,000. The ending balance of Wages Payable on December 31, 2022, was $30,000. What is the amount of cash paid for wages in 2022? A. $405,000 B. $400,000 C. $395,000 D. $390,000

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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What is the amount of cash paid for wages in 2022 on these general accounting question?

On January 1, 2022, Reliable Corp. reported Wages Payable of
$25,000. Wages Expenses for 2022 totalled $400,000. The
ending balance of Wages Payable on December 31, 2022, was
$30,000.
What is the amount of cash paid for wages in 2022?
A. $405,000
B. $400,000
C. $395,000
D. $390,000
Transcribed Image Text:On January 1, 2022, Reliable Corp. reported Wages Payable of $25,000. Wages Expenses for 2022 totalled $400,000. The ending balance of Wages Payable on December 31, 2022, was $30,000. What is the amount of cash paid for wages in 2022? A. $405,000 B. $400,000 C. $395,000 D. $390,000
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