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A firm reported salary expense of $239,000 for the current year. The beginning and ending balances in salaries payable were $40,000 and $15,000, respectively. What was the amount of cash paid for salaries?A. $214,000.B. $289,000.C. $264,000.D. $239,000.

Respuesta :

Answer:

C. $264,000

Explanation:

The computation of the amount of cash paid for salaries is shown below

= Opening balance of salaries payable + salary expense - closing balance of salaries payable

= $40,000 + $239,000 - $15,000

= $264,000

Hence, the amount of cash paid for salaries is $264,000

Therefore the correct option is c.

We simply applied the above formula so that the correct value could come

And, the same is to be considered