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QUESTION
XYZ Co. pays a weekly payroll of $95,000 that includes federal taxes withheld of $12,700, FICA taxes withheld of $7,270, and retirement withholdings...
XYZ Co. pays a weekly payroll of $95,000 that includes federal taxes withheld of $12,700, FICA taxes withheld of $7,270, and retirement withholdings of $6,000. What is the effect of assets and liabilities from this transaction?
