Reference no: EM132943750
ABC Company recorded a net income, after the 30% income tax, of Php105,000 in 2020. The entity paid Php24,000 for a 2-year insurance coverage and has failed to prepare the necessary' journal entries during the year The correct prepaid insurance as of December 31,2021 is Php3,000
Problem 1: If the error has remained undiscovered, how much is retained earnings over or understatement as of December 31, 2021?
Option 1: 2,700 understated
Option 2: 3,000 understated
Option 3: 12,000 understated
Option 4: 9,000 overstated
Option 5: None of the choices
Problem 2: How much is the adjusted net income after tax in 2020?
Option 1: 98,700.00
Option 2: 96,000.00
Option 3: 143,700.00
Option 4: 107,700.00
Option 5: None of the choices
|
Outline the main features of political ideology
: A. Outline the main features of Political Ideology. B. Explain TWO (2) differences between the Political Ideologies of Plato and Aristotle.
|
|
Do you think the gk social enterprise are sustainable
: Do you think the GK social enterprise are sustainable? Why or why not?
|
|
Draw a logical erd in crow foot notation
: Draw a logical ERD in crow's foot notation for the specification described above.
|
|
How much is the investment income to be recognized
: On July 1, 2009, Les Co. acquired 50,000 newly issued shares of Claypool Co. at P10 per share. How much is the investment income to be recognized
|
|
How much is retained earnings over or understatement
: ABC Company recorded a net income, If the error has remained undiscovered, how much is retained earnings over or understatement as of December 31, 2021?
|
|
What is telecommuting
: i. What is telecommuting? ii. What are the advantages and disadvantages?
|
|
What are the major types of depository institutions
: What are the major types of depository institutions, and what roles do they play in financial markets?
|
|
Record the transaction for the year ended December
: A two year insurance policy for $2,640 was purchased on November 1 of the current year. Record the transaction for the year ended December 31
|
|
Explain best-of-breed implementation strategies
: Highlight the differences between ERP configuration, customization, and best-of-breed implementation strategies.
|