User Account

All Pages

How much should be reported on the balance sheet

Assignment Help Financial Accounting
Reference no: EM132545455

Akira Company has an obligation to annually pay P185,000 in the defined contribution plan of its employees. At the start of 2020, it has an outstanding payable of P25,000. It paid the following contributions: P160,000 during 2020, P250,000 during 2021 and P160,000 during 2022.

Question 1. How much should be reported on the 2020 Balance Sheet? [Indicate if it is an asset or liability]

Question 2. How much should be reported on the 2021 Balance Sheet? [Indicate if it is an asset or liability]

Question 3. How much should be reported on the 2022 Balance Sheet? [Indicate if it is an asset or liability]

Reference no: EM132545455

Questions Cloud

How much is the annual rental expense or income : How much is the annual rental expense or income? How much should Duper reports in its 2021 Balance Sheet? How much should Duper reports in 2020 Balance Sheet.
Find what is the price-earnings ratio : A book value per share of $52.50, and 120,000 shares of stock outstanding. If you know that the market-to-book ratio is 1.6. What is the price-earnings ratio?
Increase and maintain acceptable levels of motivation : What should Leaders do to increase and maintain acceptable levels of motivation among their team members?
What is the firm net profit after taxes : What is the firm's net profit after taxes in 2005? XYZ firm had year end 2004 and 2005 retained earnings balances of $670,000
How much should be reported on the balance sheet : How much should be reported on the 2022 Balance Sheet? How much should be reported on the 2020 Balance Sheet?How much should be reported on the 2021
How is taxable income of a corporation computed : How is taxable income of a corporation computed? Be sure to discuss the order in which charitable contributions, the dividends received deduction
Discuss use of intelligence-led policing : Discuss the use of intelligence-led policing (ILP) and the development of fusion centers to equip law enforcement for their expanded mission.
What common interests are shared by bankers : Monica Orgeta, president and owner of Star Enterprises, applied for a $250,000 loan, What common interests are shared by bankers and business owners
Calculate the unrealized profit and final profit : which included a mark-up of one-third. 50% of these goods were still in inventory at the end of the year. Calculate the unrealized profit/ and final profit.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Question please use the subsequent present and future value

question please use the subsequent present and future value tables below as a resource to solving the assigned

  What is the required rate of return on the project

What is the required rate of return on the project if its beta is 1.80? (Do not round intermediate calculations. Enter your answer as a whole percent.)

  What are earnings per share and dividends per share

Crabtree Inc had additions to retained earnings for the year just ended of $625,000. The firm paid out $130,000 in cash dividends, and it has ending total equity of $7.2 million.

  Marks hospital contains 450 beds the average occupancy rate

marks hospital contains 450 beds. the average occupancy rate is 80 per month. in other words on average 80 of the

  Determine effect on the companys total net operating income

Determine the effect on the company's total net operating income of accepting the special order. Show your work

  What is the value of the common stock

If? Gilliland's return on equity is 21?percent, and its retention rate is 25 ?percent, what is the value of the common stock if the investors require a rate

  What is the irr on the investment

The board of directors wants to pursue this investment, because they think the $49,000 CHC will receive is close to the $50,000 cost.

  Present the forecast of cash collections

Initial sales will be $50,000 in January. Sales will increase each month by 1%. 40% of each month's sales will be collected that month in cash; 30% of that month's sales will be collectd in the month following the sale; 20% of that month's sales will..

  Should beryl''s iced tea continue to rent

Purchase a new, more advanced machine for $250,000. This machine will require $15,000 per year in ongoing maintenance expenses and will lower bottling costs by $10,000 per year. Should Beryl's Iced Tea continue to rent, purchase its current machine..

  Calculate inventory turnover

This information is available for Abdullah’s Photo Corporation for 2015, 2016, and 2017. 2015 2016 2017 Beginning inventory $ 113,000 $ 311,000 $ 416,000 Ending inventory 311,000 416,000 482,000 Cost of goods sold 900,000 1,110,000 1,310,000 Sales re..

  Approximate percentage increase in quantity demanded

Given the following demand function: Q = 2.0 P?1.33 Y2.0 A.50 where Q = quantity demanded (thousands of units) P = price ($/unit) Y = disposable income per capita ($ thousands) A = advertising expenditures ($ thousands) The approximate percentage inc..

  Describe the inventory valuation methods fifo and lifo

Merchandise Inventory. Describe the inventory valuation methods FIFO and LIFO. Which items are included in ending inventory under each method?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd