White Flag, a womens clothing manufacturer, reported salaries expense of $20 million. The beginning balance of salaries
Question:
White Flag, a women’s clothing manufacturer, reported salaries expense of $20 million.
The beginning balance of salaries payable was $3 million, and the ending balance of salaries payable was $1 million. How much cash did the company pay in salaries?
A. $18 million.
B. $21 million.
C. $22 million.
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The cash that the company paid in salaries can be calculated by first looking at the salaries expens...View the full answer
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Related Book For 
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
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