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How does accounting help the capital allocation process attract investment capital?
Gross Pay
The total amount of money earned by an employee before any deductions or taxes are taken out.
Net Pay
Gross earnings, less deductions. Net pay, or take-home pay, is what the worker actually takes home.
Wages and Salaries Payable
Liabilities for wages and salaries that have been earned by employees but have not yet been paid.
Federal Income Taxes Payable
The amount of income tax that a company or individual owes to the federal government and has not yet paid.
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