Carlock Companys salaried employees are paid biweekly. Occasionally, advances made to employees are paid back...
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Carlock Companys salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2017 is as follows:
12/31/16 12/31/17
Employee advances $12,000 $ 18,000
Accrued salaries payable 75,000 ?
Salaries expense during the year 650,000
Salaries paid during the year (gross) 625,000
At December 31, 2017, what amount should Carlock report for accrued salaries payable?
a. $100,000.
b. $84,000.
c. $92,000.
d. $55,000.
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