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has annual salary expense of $650000. In addition, Salborne incurs payroll tax expense equal to 11% of the total payroll. At 30 November, the end
has annual salary expense of
$650000.
In addition,
Salborne
incurs payroll tax expense equal to
11%
of the total payroll. At 30
November,
the end of the financial year,
Salborne
owes salaries of
$10000
and payroll tax of
$2400.
RequirementShow what
Salborne
will report for these facts in its income statement and year-end classified balance shee
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