Explination to answer

Explination to answer - year (Gross) 625,000 Dear Tutor, I...

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Edge Company’s salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deduction. Information relating to salaries for the calendar year 2011 is as follows: 12/31/10 12/31/11 Employee advances 12,000 18,000 Accrued Salaries payable 65,00 ? Salaries expense during the year 650,000 Salaries paid during the
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Unformatted text preview: year (Gross) 625,000 Dear Tutor, I know the answer to this question is 90,000. I n order to get the correct answer, I subtracted $625,000 from $650,000 (the non-paid portion of wages) and added $65,000 (accrued salaries payable). Is this the right way to do the problem? and, if it is, why is it correct?...
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This note was uploaded on 02/21/2012 for the course ACT 492 taught by Professor Ngo during the Fall '11 term at Colorado.

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