a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan. To prepare: Amortisation schedule for the first three months.

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Answer 1

Question

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

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Problem No. 3 The business assets of Glea Yares and Eunice Alico appear below: Yares Alico Cash P 10,000 P 25,000 Accounts Receivable 245,000 565,000 Inventories 122,000 260,000 Land 664,000 Building 938,000 Furniture and Fixtures Total 87,000 P1,128,000 36,000 P1,824,000 000,00 000,000 19 000,008 Account Payable Notes Payable P 178,000 200,000 Yare, Capital diw 750,000 P 245,000 345,000 adi to omen Alicol, Capital Total P1,128,000 1,234,000 P1,824,000 On March 5, 2025, Yares and Alico agreed to form a partnership contributing their assets and equities subject to the following adjustments: qining arboj su to nam a. Accounts receivable of P15,000 in Yares' books and P30,000 in Alico's are uncollectible. b. Inventories of P5,500 and P6,500 are worthless in Yares' and Alico's respective books. Required: 1. In the books of Yares, prepare the necessary journal entries: a. To record the adjustments to Yares' assets b. To close the books of Yares of viande no 251qgque oroa snemu ni 2. In the…

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Answer 2

Question

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

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Answer 3

Question

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

Expert Solution & Answer

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Answer 4

Question

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

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Answer 5

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

Answer 6

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

Answer 7

Chapter 14, Problem 1CP

To determine

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

Answer 8

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

Answer 9

To determine

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

Answer 10

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

Answer 11

To determine

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 14 - Prob. 1QC Ch. 14 - Daniels's bonds payable carry a stated interest...Ch. 14 - Prob. 3QC Ch. 14 - Prob. 4QC Ch. 14 - Prob. 5QC Ch. 14 - Prob. 6QC Ch. 14 - Prob. 7QC Ch. 14 - Prob. 8QC Ch. 14 - Prob. 9AQC Ch. 14 - 10B Hicks Corporation issued S500.000 of 5%,...

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan. To prepare: Amortisation schedule for the first three months.

Concept explainers

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.

Want to see the full answer?

Chapter 14 Solutions

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan. To prepare: Amortisation schedule for the first three months.

Concept explainers

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan. To prepare: Amortisation schedule for the first three months.

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period. To prepare: Payroll register for the months of October, November and December.

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes. To calculate: Employer payroll tax liabilities for the months of October, November and December.

Want to see the full answer?

Chapter 14 Solutions

a) Amortisation Schedule: An amortisation schedule is a table showing principal and interest repayments to be made for a loan.

To prepare: Amortisation schedule for the first three months.

b) Payroll Register: It is a record that includes all the details about all the payments made to employees during a period.

To prepare: Payroll register for the months of October, November and December.

c) Employer Payroll Taxes: The taxes that an employer needs to pay on the salary paid to the employees are called employer payroll taxes.

To calculate: Employer payroll tax liabilities for the months of October, November and December.