Income statement shows salaries expense

Assignment Help Financial Accounting
Reference no: EM131289288

A company's income statement shows salaries expense of $22,000 for the current year. The balance in salaries payable increased $3,000 during the year. How much cash was paid for salaries during the year?

a. $22,000

b. $19,000

c. $25,000

d. $3,000

Reference no: EM131289288

Questions Cloud

Savings would not be covered by deposit insurance : Janie has a joint account with her mother with a balance of $577,000. Based on $250,000 of Federal Deposit Insurance Corporation coverage, what amount of Janie’s savings would not be covered by deposit insurance?
Airfare can melissa deduct as a business expense : Melissa recently paid $400 for round-trip airfare to San Francisco to attend a business conference for three days. Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as ..
Prepare the journal entry to recognize sale : A New York City daily newspaper called “Manhattan Today” charges an annual subscription fee of $270. Customers prepay their subscriptions and receive 280 issues over the year. Prepare the journal entry to recognize sale of 11 new subscriptions, clear..
Complete the cash budget by filling in the missing amounts : The accountant for Erica’s Dress Shop prepared the following cash budget. Erica’s desires to maintain a cash cushion of $17,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged a..
Income statement shows salaries expense : A company's income statement shows salaries expense of $22,000 for the current year. The balance in salaries payable increased $3,000 during the year. How much cash was paid for salaries during the year?
Statements correctly states an effect of this conversion : On March 31, 2016, Ashley, Inc.'s bondholders exchanged their convertible bonds for common stock. The book value of these bonds on Ashley's books was less than the fair value but greater than the par value of the common stock issued. If Ashley used t..
Complete the sales budget by filling in the missing amounts : Norton Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. Complete the sales budget by filling in the missing amou..
Assume straight-line amortization : Cramer Company sold five-year, 8% bonds on October 1, 2016. The face amount of the bonds was $100,000, while the issue price was $102,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much in..
What is the amount of bond issue costs : During the year, Hamlet Inc. paid $20,000 to have bond certificates printed and engraved, paid $100,000 in legal fees, paid $10,000 to a CPA for registration information, and paid $200,000 to an underwriter as a commission. What is the amount of bond..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the cost of capital for the individual components

Calculate the cost of capital for the individual components in the capital structure, and then calculate the weighted average cost of capital for Metacorp. Consider after-tax cost of capital in your calculations.

  Calculation of wages paid to employees

Calculation of wages paid to employees - Compute the following Indicate the best answer to each question in the space provided.

  Produces a single product had a net operating income

A company that produces a single product had a net operating income of $93,000 using variable costing and a net operating income of $132,440 using absorption costing. Total fixed manufacturing overhead was $60,180 and production was 11,800 units both..

  Shares of no-par common stock issued and outstanding

On January 1, Vanessa Corporation had 61,600 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. 1 Issued 13,230 additional shares of common st..

  Invested into the employees account

If an individual earning $50,000 per year has an opportunity to participate in an employee sponsored.How much per year will be invested into the employees account.

  Q assume tax year-2012net operating lossesassume the

q assume tax year-2012net operating lossesassume the subsequent facts2007 taxable income modified 190002008 net

  What is the par value of the preferred stock

What  is the par value of the preferred  stock? If the total annual dividend on preferred stock is $24,000, what is the dividend rate on preferred stock?

  Identify the cost allocation system

Identify the cost allocation system that would benefit this company most. Justify your response. Does this cost allocation system meet management planning and control goals? Explain. What are the ethical implications that should be considered with th..

  Discuss the impact of any significant recent domestic

Present an overview of Nordstrom. Focus on the key drivers of success (i.e., shareholder value maximization), including products, markets, and competition. Discuss the impact of any significant recent domestic and/or global events relating to your co..

  Create a financial projection for the next three years

Create a financial projection for the next three years. Review the Final Project Guidelines and Rubric document found in the Assignment Guidelines and Rubrics folder, and in your initial post.

  Various functions performed by the financial intermediaries

Explain in Detail the various functions performed by the financial intermediaries in the financial market.

  What charitable contrubution deduction

The trust had DNI of $25,000. What charitable contrubution deduction, if any, may the trust deduct? Is the trust a simple or complex trust in 2010? Is the trust a simple or complex trust in 2010?

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