a. 450 000b. 422 500c. 315 000d. 400 000 Leyte Company an entity granted all employees two weeks of paid vacation for each full yearof employment. Unused vacation time can be accumulated and carried forward to succeedingyears and will be paid at the salaries in effect when vacations are taken or when employmentis terminated.Liability for accumulated vacations on January 1, 2019 600,000Pre-2018 accrued vacations taken from January 1, 2019 to September 30, 2019 450,000Vacations earned for work in 2019 adjusted to current rate 400,000The entity granted a 15% salary increase to all employees on October 1, 2019.What amount should Leyte Company report as vacation pay expense for 2019?

Vacation pay expenses indicate that how much vacations is earned by the employees in the current…

Answered: Leyte Company an entity granted all…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Patent Item Patent A Patent B Patent C 1. 2. 3. Year 2026 2027 The following events occurred during the year ended December 31, 2025. 2028 Initial Cost $41,820 $15,600 $16,800 (a) (b) Expected Future Cash Flows $2,050 2,050 Research and development costs of $235,000 were incurred during the year. Patent D was purchased on July 1 for $45,372. This patent has a useful life of 9¹/2 years. 2,050 Click here to view factor tables. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Sheridan estimates the expected future cash flows from Patent B will be as follows. Date Acquired Your answer is correct. 3/1/21 The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) Total carrying amount $ 7/1/22 9/1/23 eTextbook and Medial Useful Life at Date Acquired 17 years 10 years 4 years Compute the total carrying amount…
Particulars 31st Mar' 19 Amt (Rs) 31st Mar' 20 Amt (Rs) Land and Building 3600000 3600000 Cash 400000 320,000 Sundry Debtors 640000 800,000 Temporary Investments 400000 640,000 Stock 3680000 4320000 Prepaid Expenses 560000 24000 Plant and Machinery 1920000 3096000 Total Assets 11200000 12800000 Current Liabilities 1280000 1600000 Loans 3200000 3200000 Capital 4000000 4000000 Retained Earnings 936000 1624000 Statement of Profit for the Current Year 1st Apr to 31st Mar' 20 : Amt (Rs) Sales 8000000 Less: Cost of Goods Sold -5600000 Less: Interest -320000 Net Profit 2080000 Less: Taxes @ 50% -1040000 Profit after Tax 1040000 Profit Distributed 440000 Calculate Current Ratio Debtors Turnover Ratio Stock Turnover Ratio Return on Total Assets
800 800 800 В -1-2–3 -4 B B 1.5B If i= 15 % what is the value of B so that the present worth is = 0 write your final answer and write out the equations you
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Sh56
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Q 5. [A] From the following data, indicate the effect that the changes in the relevant items will have on the working capital: Particulars Jan 1, Dec 31, Particulars Jan 1, Dec 31, 2020 2020 2020 2020 Land 44000 68000 Goodwill 13000 13000 Debentures 20000 25000 Prepaid Expenses 70 300 Stock 30000 28000 Bills Payable 1500 900 Machinery 180000 180000 Bills Receivable 3000 2000 Trade Creditors 8000 5320 Mortgaged Loan 50000 40000 Cash 29000 9000 Equity Share Capital 100000 120000 Long Term Investments 10000 6250 Preference Share 120000 75000 Сapital Accrued Expenses 350 160 Trade Debtors 19000 20000 Short-term Debt 3220 5170 Your answer must indicate the overall and individual effect of changes in relevant items. [B] A Company's reported current year profit is Rs. 70000 after incorporating the following: Particulars Amount Particulars Amount Loss on Sale of Equipment 9000 Gain from sale of Assets 40000 Premium Redemption of 1500 Provision for Tax 22000 on Debentures Discount on issue of…

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