CERISE Company uses accrual basis of accounting. Wages expense account had a balance of P255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively. How much cash was paid for wages during the year? A. ₱ 244,000 B. ₱ 240,000 C. ₱ 250,000 D. ₱ 254,000

CERISE Company uses accrual basis of accounting. Wages expense account had a balance of P255,000 at year end. The wages payable account had a P11,500 and P22,500 beginning and ending balance, respectively. How much cash was paid for wages during the year? A. ₱ 244,000 B. ₱ 240,000 C. ₱ 250,000 D. ₱ 254,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 4DQ

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