Question

A partial adjusted trial balance of Sunland Company at January 31, 2017, shows the following.
SUNLAND COMPANY
ADJUSTED TRIAL BALANCE
JANUARY 31, 2020

Debit Credit
Supplies $1,040
Prepaid Insurance 4,440
Salaries and Wages Payable $1,140
Unearned Service Revenue 1,090
Supplies Expense 950
Insurance Expense 740
Salaries and Wages Expense 2,140
Service Revenue 2,340
Answer the following questions, assuming the year begins January 1.
A partial adjusted trial balance of Sunland Compan

If $2,840 of salaries was paid in january, what was the balance in Salaries and Wages Payable at December 31, 2019?

Answer 1

Answer:

The balance in Salaries and Wages Payable at December 31, 2019 is $1,840

Explanation:

The computation of the balance in salaries and wages payable is shown below:

= Salaries and wages payable on January 31, 2020 - salaries and wages expense + salaries paid  in January month

= $1,140 - $2,140 + $2,840

= $1,840

The other information which is given in the question is not relevant. So, it is not considered in the computation part.