Saturday, February 22, 2014

EX 3-14 Determining wages paid

The wages payable and wages expense accounts at January 31, after adjusting entries have
been posted at the end of the first month of operations, are shown in the following T accounts:

            Wages Payable                                              Wages Expense
                        Bal. 3,750                                     Bal. 41,250
Determine the amount of wages paid during the month.

Answer:
$37,500 = ($41,250 – $3,750)

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