Assets decrease $100,000 and liabilities do not change Assets decrease $12,000 a

ID: 2380001 • Letter: A

Question

       Assets decrease $100,000 and liabilities do not change
      Assets decrease $12,000 and liabilities increase $12,000
       Assets increase $88,000 and liabilities increase $12,000.
       Assets decrease $12,000 and liabilities increase $88,000.

TCO D) Green Co. pays a weekly payroll of $100,000 that includes federal taxes withheld of $40,500, FICA taxes withheld of $22,000, and 401(k) withholdings of $25,500. What is the effect of assets and liabilities from this transaction? (Points : 5)

Explanation / Answer

Assets decrease $12,000 and liabilities increase $88,000.

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Assets assigned to California Division for 2017 were as follows: Assets Beg Bala

Assets s 40,000 Cash and short-term investments Accounts receivable (net) Invent

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Assets decrease $100,000 and liabilities do not change Assets decrease $12,000 a

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