Salary expense = $5.7 million
Salaries payable increase = $6.6 million
cash paid to employees = Salary expense - Salaries payable increase
= 5.7 - 6.6
= $-0.9
Salaries payable is a kind of entry in commercial enterprise accounting journals that describes how a good deal a company owes its employees. Accounting experts or managers file salaries payable once they owe revenue to pay to their personnel, but haven't dispensed the money yet.
Salary payable is a modern legal responsibility account containing all the balance or unpaid wages at the end of the accounting length. the amount of income payable is suggested in the balance sheet at the quit of the month or 12 months, and it is not stated within the income statement.
Salaries payable is a liability account that contains the quantities of any salaries owed to employees, which have not been paid to them. The balance within the account represents the salaries liability of a business as of the balance sheet date.
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