Explain the business and salary expense, Accounting Basics

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Explain the business and salary expense

During Clean Dirt, Inc.'s first year of business, salary expense was $60,000. At the end of its first year of business, Clean Dirt's first balance sheet showed $5,000 of salaries payable. How much did Clean Dirt pay in cash for salaries during its first year of business?

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Accounting Basics: Explain the business and salary expense

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Request for Solution File

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Accounting Basics: Explain the business and salary expense

Reference No:- TGS0707702

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Determine the balances of the partners

Q : Why the advertising costs could be eliminated

Q : How much did clean dirt pay in cash for salaries

Q : Prepare the entry to record the interest expense

Q : Explain the business and salary expense

Q : What is the difference in total dollars that will be paid

Q : Determining the price variance at the point of purchase

Q : Original investments and the remainder

Q : Explain the difference between the profits obtained

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the business and salary expense

Reference No:- TGS0707702

Recent Questions Asked Accounting Basics

Q : Determine the balances of the partners

Q : Why the advertising costs could be eliminated

Q : How much did clean dirt pay in cash for salaries

Q : Prepare the entry to record the interest expense

Q : Explain the business and salary expense

Q : What is the difference in total dollars that will be paid

Q : Determining the price variance at the point of purchase

Q : Original investments and the remainder

Q : Explain the difference between the profits obtained

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