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goji.go goji.go
wrote...
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Posts: 5977
Rep: 293 0
10 years ago
Assume that General Fund employees accrued $125,000 of compensated absences liability during the year. Compensated absences liability, which is considered to be a long-term liability, decreased $30,000 from the beginning of the year to the end of the year. The fund also actually paid $550,000 in salaries and wages during the year. At the end of the fiscal year, salaries and wages payable was $12,000. The General Fund would report salaries and wages expenditures for the year of
A.   $532,000.
B.   $550,000.
C.   $562,000.
D.   $592,000.
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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10 years ago
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goji.go Author
wrote...
#2
10 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
10 years ago
You're very welcome!
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