ACCA

Payroll Accounting

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ACCA FA — Financial Accounting Practice Exam 3

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Q09Medium2 marks·ACCA FA — Financial Accounting Practice Exam 3

A tech startup's payroll records for the month show: Gross wages $50,000; Income tax deducted (PAYE) $10,000; Employee pension contributions $2,500; Employer pension contributions $3,000. What is the total wage expense to be recognized in the statement of profit or loss for the month?

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