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Natalija [7]
2 years ago
15

Taylor Company had a salaries payable balance of $18,000 on December 31, 2014. During 2015, it paid $50,000 in cash as salaries,

and recorded a salary expense of $50,000. What is its December 31, 2015, salaries payable balance?a. $50,000 b. $18,000 c. $100,000 d. Cannot be determined from the information provided
Business
1 answer:
Flura [38]2 years ago
8 0

Answer:

$18,000

Explanation:

Given data  for Taylor Company;

Salaries payable at the beginning of 2015 (end of 2014) = $18,000

Salary expense during the year (2015) = $50,000

Salaries paid during the year = $50,000

Salary payable at end of year (2015) = ?

Let the salary payable at end of year= S

Using the formula

Salaries payable at the beginning of the year + Salary expense during the year - Salaries paid = Salary payable at end of year

$18,000 + $50,000  - $50,000  =S

S = $18,000

Salaries payable as at December 31, 2015 is $18,000.

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a. Predetermined administration costs - $ 54 per engineering hours

b. Profit per Toot  - $ 648,075

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Estimated administration costs                                              $ 629,100

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Engineering hours - Tix    -  <u>4,825</u>

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Administration costs - Tix =   4,825 hours * $ 54 per hour = $  260,550

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                                                                 $                    $

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Allocation of admin costs                     <u>368,550 </u>         <u>260,550</u>

Total costs                                              <u>701,925 </u>          <u>713,550</u>

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Answer:

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