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Thank you in advance!!! Ivanhoe pays a weekly payroll of $250000 that includes federal income taxes withheld of $38100, FICA taxes withheld of $23970, and
Thank you in advance!!!
Ivanhoe pays a weekly payroll of $250000 that includes federal income taxes withheld of $38100, FICA taxes withheld of $23970, and 401(k) withholdings of $26500. What is the effect on assets and liabilities from this transaction? Assets decrease $187930 and liabilities decrease $62070. Assets decrease $187930 and liabilities increase $62070. Assets decrease $161430 and liabilities increase $88570. Assets decrease $250000 and liabilities do not changeStep by Step Solution
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