Determining wages paid
Response to the following problem:
The wages payable and wages expense accounts at May 31, after adjusting entries have been posted at the end of the first month of operations, are shown in the following T accounts:
|
Wages Payable
|
Wages Expense
|
|
Bal.
|
7,175
|
Bal.
|
73,250
|
Determine the amount of wages paid during the month.