Eagle Company reported Salaries and Wages Payable of $1,500 at the beginning of the year and $5,000 at the end of the year. The income statement for the year reported Salaries and Wages Expense of $112,400. How much cash was paid for salaries and wages during the year?

Given:

Wages payable at the beginning of the year = $1500

Wages payable at the end of the year = $5000

Salaries and wages expense as per the income statement = $112400

To find:

Cash paid for salaries and wages

Solution:

The calculation of the cash paid for salaries and wages is as follows,

Wages payable at the end of the year-Wages payable at the beginning of the year =

Cash paid =

Therefore, the cash paid for salaries and wages during the year is $1,08,900.

Wages and salaries are paid by the organization or management to the workers or the employees in return for the work done by them for the company.

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