p28 The following are information from the books of Kwek-Kwek Malls and Tickets Company as ofDecember 31, 2021:• Signing of employment contract by a new employee on April 1, 2021. Her salary is P25,000 amonth.• The company declared P50,000 cash dividends on cumulative preference shares.• Declared P100,000 share dividends to ordinary shareholders.• Declared a property dividend worth P80,000 to ordinary shareholders.• Receipt of goods to be sold for the account of the consignor, P20,000.• Withholding taxes on employee's compensation, P90,000.• Receipt of land with a fair value of P600,000 from the city government of Pangasinan. Based onthe agreement, the company needs to set up a branch on the site.• Sold refundable tickets for a concert to be held on April 9, 2022, P100,000.How much are the total liabilities to be recognized by the company? * O

Once we signed an agreement with new employee the offer compensation becomes the liability of the…

Answered: p2 | bartleby

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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Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Furmiture & Fixtures 5,400 60,900 34,100 Accumulated Depreciation - Furm. & Fixt. Office Equipment Accumulated Depreciation - Office Eapms Note Payable Accounts Payable Leonard Captal Leonard Drawing 3,100 15,500 1,500 20,000 94,750 265,000 9,500 Sales 572,875 Sales Returns Sales Discount 11,000 6,400 390,750 5,415 Purchases Freight in Parchase Returns Purchase discount Salaries Expense Rent Expense Insurance expense Office supplies expense 3,630 6,885 99 550 24,000 5,250 2,200 Rental Income 5,000 Additional informanion: Merchandise Inventory, December 31, P 76,000
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0271 20161 122oint and wong liw vitorioss of 10 2016 621 570111507780002 Question 50 vd mwob 250g abnod to oulay jud asiduob loota to oulsy od viqinda WOT ST6 201611291910 e vibrd, col vimonces adt milt once and T: E renso2 You are given the following information for two assets Uno and Dos: u yo qu909 DOGO TO SLolato sulsv onT reda ai Expected rate of return Variance of return srüster2 (1) 0.0595 0.0384 0.0153 ort ano 0.0153 29:01 ano Asset Uno W bas Wydb Dos rifesw 0.2315 VISM 1 odtwob stiW bus x to noitonuts as zonesse sondt orlt to ross tot visvitsogasn 26 At a market risk premium of 3.5% and a risk-free rate of 2%, determine which asset is considered riskier by analyzing their systematic and unsystematic risks. mvilu a visM szoqquz W bas W. W to noitonuts as vilitu botooqxo a'vM to noia201qxs si nwob in W v bas xto esuley sri bait sidizzoq zi sim ooit-lain odi is gaibasl bas gniwonod goimwezA viilitu botoqxo a'vieM eximixem lliw jedi MOT
[231] Use the following data: Net sales $2,708,000 Beginning total assets $713,000 Asset turnover 4 What is the ending total asset balance? a. $577,000 b. $713,000 c. $641,000 d. $677,000
Q31 Each and every individual item in this method is recorded in balance sheet in ________ method taking in to consideration the ________ index according to the cost of replacing all the assets and liabilities rather than original cost. a. Historical cost ; General price index b. Current purchasing; General price index c. Replacement cost ; Specific price index d. Replacement cost ; General price index

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