Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Bata 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 2022 is as
follows:
Employee advances
Accrued salaries payable
Salaries expense during the year
Salaries paid during the year (gross)
12/31/21 12/31/22
$12,000 $ 18,000
75,000 ?
650,000
625,000
At December 31, 2022, what amount should Bata report for accrued
salaries payable?
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Transcribed Image Text:Bata 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 2022 is as follows: Employee advances Accrued salaries payable Salaries expense during the year Salaries paid during the year (gross) 12/31/21 12/31/22 $12,000 $ 18,000 75,000 ? 650,000 625,000 At December 31, 2022, what amount should Bata report for accrued salaries payable?
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