Town Lake Company has completed the payroll for January 2004. reflecting the following data: Required: 1. What
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Town Lake Company has completed the payroll for January 2004. reflecting the following data:
Required: 1. What amount of additional labor expense to the company was due to tax laws? What was the amount of the employees' take-home pay'1 2. List the liabilities and their amounts that are reported on the company's January 3 1 . 2004. balance sheet. 3. Would employers react differently to a 10 percent increase in the employer's share of FICA than to a 10 percent increase in the basic level of salaries? Would financial analysts react differently?
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