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Home Q & A Board Other Fields Homework Help Business Accounting
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2yankees2 2yankees2
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5 years ago
Reducto Co. pays a weekly payroll of $100,000 that includes federal taxes withheld of $12,400 FICA taxes withheld of $7250, and retirement withholdings of $6,000. What is the effect of assets and liabilities from this transaction?
A) Assets decrease $100,000 and liabilities decrease $74,350.
B) Assets decrease $100,000 and liabilities increase $100,000.
C) Assets decrease $74,350 and liabilities decrease $25,650.
D) Assets decrease $74,350 and liabilities increase $25,650.
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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wrote...
#1
5 years ago
 D
2yankees2 Author
wrote...
#2
5 years ago
Tremendous help, I just double-checked it with my friend Smiling Face with Open Mouth
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