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Question - Carlock Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2018 is as follows:
12/31/17
12/31/18
Employee advances
$12,000
$18,000
Accrued salaries payable
75,000
?
Salaries expense during the year
650,000
Salaries paid during the year (gross)
625,000
At December 31, 2018, what amount should Carlock report for accrued salaries payable?
a. $100,000.
b. $84,000.
c. $92,000.
d. $55,000.
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