Bella Company had wages payable at the beginning of the year of $1,000. During the year her company...
Bella Company had wages payable at the beginning of the year of $1,000. During the year her company paid cash wages of $25,000 and at the end of the year she owed wages of $ 3,000. Her income statement for the year will show wage expense of:
A) $ 24,000
B) $ 25,000
C) $ 27,000
D) $ 28,000
E) $ 26,000
Homework Answers
Ending wages payable=Beginning wages payable+Wages expense-Cash paid for wages
3,000=1,000+Wages expense-25000
Wages expense=3,000+25,000-1,000
=$27,000
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