Hello,This is an accounting question having to do with contingency and provision liability and journal entry required (no taxation).....Thank youIf data is missing, please include specifics in rejection note. cricket X"Þ © 4. l| 30% 4:30 PM* REJECTEDMonday, Apr 05, 2021BUSINESS • ACCOUNTINGHelloPlease assist with calculations of provision liability &journal entry with regard to this. See pic and below.The $7,199 increase in provision includes followingreconciled to income statement:Increase in provision.$7,199Items not now cvd by escrow acct. 833Non provisioned costs.245Change in discount rate.135Less items to be pd from escrow acct:(756)Profit before int. and taxation. $7,656Thank youQ(? cricket© 40. all 36% 3:49 PM* REJECTEDMonday, Apr 05, 2021BUSINESS • ACCOUNTINGHelloPlease assist with journal entries to record with respectliability (working with provision liabilities).Includes...At 7/01/10.$17,646increase in provision 7,199Unwinding of discount. 2(8,442)utilization.at 9/30/10.$16,405Thank youOh no! Our expert couldn't answer your question.Don't worry! We won't leave you hanging. Plus, we'regiving you back one question for the inconvenience. How'swhat the expert had to say.

Provision liability: Provision liability is defined as the liability that can arise anytime and also…

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Please assist with calculations of provision liability & journal entry with regard to this. See pic and below.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter10: Payroll Register (pr)

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