Find what amount of cash was paid for wages during year two

Assignment Help Financial Accounting
Reference no: EM132495689

Question 1: The financial statements of Gregg Co. reported wages expense of $364,000 during Year 2, wages payable of $49,600 at the end of Year 1, and wages payable of $68,200 at the end of Year 2. What amount of cash was paid for wages during Year 2

Option 1: $345,400

Option 2: $314,400

Option 3: $413,600

Option 4: $364,000

Reference no: EM132495689


Write a Review


Financial Accounting Questions & Answers

  How much be willing to give today

He is leaving the company on good terms and you would like to accommodate him. How much you be willing to give him today if the interest rate is 7%?

  Fixed selling and administrative expenses reported

For the variable costing income statement, how are fixed manufacturing costs reported and how are the fixed selling and administrative expenses reported? How is this different from absorption costing income statements? How does this difference impact..

  File joint income tax return

Troy and Tracy are married and file a joint income tax return. Their adjusted gross income is $30,000 per year. On last years return, the Tanks claimed a $960 credit for child care expenses. The Tanks are in the 15% marginal income tax bracket. What ..

  Beginning balance in the finished goods account

Management of Mcgibboney Corporation has asked your help as an intern in preparing some key reports for November. The beginning balance in the raw materials inventory account was $25,000. During the month, the company made raw materials purchases amo..

  Compute daily returns on the two stocks

ompute the expected return and the standard deviation of returns on each of the two stocks using the AVERAGE and the STDEV function in MS Excel.

  Bonds of similar risk and maturity

Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2013. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 8% for bo..

  What national telecom corp operating cycle is closest

Which of the statements will most likely be true of the annual yield-to-maturity of the two bonds? National Telecom Corp's operating cycle in 2016 is closest to

  What is the amount of its owners equity

Ambria Company's assets are $240,000, and its liabilities are $90,000. - What is the amount of its owner's equity?- What is the amount of the liabilities?

  Illustrate what is often the first part of the process

In the purchasing processes, illustrate what is often the first part of the process? Name at least four receiving transactions, in the order the processes occur.

  Layered curriculum

What is Differentiated Instruction-What can be Differentiated-What is a Layered Curriculum

  What amount of net cash provided by financing activities

What amount of net cash provided by financing activities should be reported in the statement of cash flows?

  Question a company has two employees the companys net

question a company has two employees. the companys net salaries for the month of january were 8000. the federal income

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd