WU COMPANY December 31 Selected Balance Sheet account balances are: 2012 $ 37,00

Question

WU COMPANY December 31 Selected Balance Sheet account balances are: 2012 $ 37,000 32,000 192,000 7,000 85,000 63,000 98,000 28,000 1,000 ash $ 16 ounts Payable 26,00 unts Receivable 220 alaries Payable Land Merchandise Inventory Machineny Prepaid Rent Income Taxes Pavable 13,000 70,000 76,00 72,000 17,00 4,00 lected Income Statement and other items for the year 2012 are: 943,000 504,000 200,000 30,000 20,000 54,000 90,000 35,000 Cost of Goods Sold alary Expense in on Sale of Machine Cash Dividends declared and paid Depreciation Expense Rent Expense Income Taxes Expense Cash payments for salaries during 2012 amounted to: O s210,000. $ 206,000. $ 200,000. O $ 194,000. O none of the above.

Explanation / Answer

T-Account Salaries payable cash 206000 Beg. Bal 13,000 Sal exp 200,000 End bal 7,000 Answer $206,000

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