jamesk486
Aug 11, 2010, 05:38 PM
Taylor Company had a salaries payable balance of $18,000 on December 31, 2004. During 2005, it paid $50,000 in cash as salaries, and recorded a salary expense of $50,000. Its December 31, 2005 salaries payable balance is:
A. $100,000
B. $50,000
C. Cannot be determined from the information provided
D. $18,000
I chose C (answer is incorrect), there needs to be more information but perhaps it could be D? 18,000-50,000+50,000= 18000
A. $100,000
B. $50,000
C. Cannot be determined from the information provided
D. $18,000
I chose C (answer is incorrect), there needs to be more information but perhaps it could be D? 18,000-50,000+50,000= 18000