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Question 15 er 0/4 pts Aqua Service Company pays a weekly payroll of $250,000 that includes federal taxes withheld of $50,800, FICA taxes withheld
Question 15 er 0/4 pts Aqua Service Company pays a weekly payroll of $250,000 that includes federal taxes withheld of $50,800, FICA taxes withheld of $18,500, and 401(k) employee contributions withheld of $20,000. What is the net effect on Aqua's assets and liabilities, respectively, from recording this payroll information? (Do not worry about the entry for Aqua's payroll tax expenses.) P $160,700 decrease, $89,300 increase $160,700 decrease, $89,300 decrease $250,000 decrease, $250,000 decrease $89,300 increase, $89,300 increase
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