Answered: tate the respective financial…

Business

Accounting

tate the respective financial statements that each account should be classified under

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

given; the initial recognition of the wages expenses and the payment of all payables. reqiured: Assume the payment of the payables did not take place. State the respective financial statements that each account should be classified under . please answer this question I need a help from you expect.

The following information relates to National Company Limited.
Gross
FNPF
Union Fees LICI
wages
$250
$225
Names
Lal
Prasad
Singh
Ram
$275
$285
6%
6%
6%
6%
$10
$15
$18
$11
$12
$16
$17
Direct bank
loan
$20
$30
$35
$40

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