Given the Following Payroll Items You Are to Identify Whether $$\begin{array} { | l | l | l | } \hline & \text { Employer } & \text { Employee } \\\hline \text { Gross wages } & & \\\hline\end{array}$$

question 35

Essay

Given the following payroll items you are to identify whether they are the expense of the employer and/or the employee by placing an X in the appropriate column.
- $$\begin{array} { | l | l | l | } \hline & \text { Employer } & \text { Employee } \\\hline \text { Gross wages } & & \\\hline\end{array}$$

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Definitions:

Accounts Receivable Turnover

A financial ratio indicating how many times a company collects its average accounts receivable during a period.

Accounts Receivable

Debt that customers hold towards a business for received goods or services which remain unpaid.

Cash Sales

Transactions in which the buyer pays the seller immediately with cash or other forms of immediate payment.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers.