Use the Following Information to Calculate Cash Paid for Salaries

question 31

Multiple Choice

Use the following information to calculate cash paid for salaries:
$$\begin{array} { | l | r | } \hline \text { Salaries experse } & \$ 79,000 \\\hline \text { Salaries payable, January 1 } & 6,400 \\\hline \text { Salaries payable, December } 31 & 3,320 \\\hline\end{array}$$

• A) $75,680
• B) $82,080
• C) $79,000
• D) $85,400
• E) $82,320

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Definitions:

Entrepreneurship

The process of designing, launching, and running a new business or enterprise, particularly one that is characterized by innovation and risk.

Physical Facilities

The buildings, spaces, and related equipment owned or leased by an organization to support its operations.

Capital

Financial resources or assets owned by an individual or organization, used for investment, production, or other economic purposes.

Tax Deduction

An expense that can be subtracted from an individual's or organization's taxable income, effectively reducing the amount of taxes owed.