FINANCIAL+MANAG.ACCT.(LL)-W/ACCESS
FINANCIAL+MANAG.ACCT.(LL)-W/ACCESS
9th Edition
ISBN: 9781264624829
Author: Wild
Publisher: MCG
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Chapter 9, Problem 3E
To determine

Concept Introduction:

Liabilities: The obligations that are due to past transactions and events for which future payment is probable from the assets or services of a company are referred to as liabilities. Liabilities are classified into current liabilities that are due within a year and long-term liabilities that can be paid after more than a year.

The impact of given transactions on the accounting equation.

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If an oil rig was built in the sea, the cost to be capitalised is likely to include the cost of constructing the asset and the present value of the cost of dismantling it. If the asset cost $10 million to construct, and would cost $4 million to remove in 20 years, then the present value of this dismantling cost must be calculated. If interest rates were 5%, the present value of the dismantling costs are calculated as follows: $4 million x 1/1.0520 = $1,507,558 The total to be capitalised would be $10 million + $1,507,558 = $11,507,558. This would be depreciated over 20 years, so 11,507,558 x 1/20 = $575,378 per year. Each year, the liability would be increased by the interest rate of 5%. In year 1 this would mean the liability increases by $75,378 (making the year end liability $1,582,936). This increase is taken to the finance costs in the statement of profit or loss.
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Chapter 9 Solutions

FINANCIAL+MANAG.ACCT.(LL)-W/ACCESS

Ch. 9 - Prob. 1QSCh. 9 - Prob. 2QSCh. 9 - Prob. 3QSCh. 9 - Prob. 4QSCh. 9 - Prob. 5QSCh. 9 - Prob. 6QSCh. 9 - Prob. 7QSCh. 9 - Prob. 8QSCh. 9 - Prob. 9QSCh. 9 - Prob. 10QS
Ch. 9 - Prob. 11QSCh. 9 - Prob. 12QSCh. 9 - Prob. 13QSCh. 9 - Prob. 14QSCh. 9 - Prob. 15QSCh. 9 - Prob. 16QSCh. 9 - Prob. 17QSCh. 9 - Prob. 18QSCh. 9 - Prob. 19QSCh. 9 - Prob. 20QSCh. 9 - Prob. 1ECh. 9 - Prob. 2ECh. 9 - Prob. 3ECh. 9 - Prob. 4ECh. 9 - Prob. 5ECh. 9 - Prob. 6ECh. 9 - Exercise 9-5 Computing payroll taxes P2 P3 BMX...Ch. 9 - Prob. 8ECh. 9 - Prob. 9ECh. 9 - Prob. 10ECh. 9 - Prob. 11ECh. 9 - Prob. 12ECh. 9 - Prob. 13ECh. 9 - Prob. 14ECh. 9 - Prob. 15ECh. 9 - Prob. 16ECh. 9 - Prob. 17ECh. 9 - Prob. 18ECh. 9 - Prob. 19ECh. 9 - Prob. 20ECh. 9 - Prob. 21ECh. 9 - Prob. 22ECh. 9 - Prob. 1PSACh. 9 - Prob. 2PSACh. 9 - Prob. 3PSACh. 9 - Prob. 4PSACh. 9 - Prob. 5PSACh. 9 - Prob. 6PSACh. 9 - Prob. 1PSBCh. 9 - Prob. 2PSBCh. 9 - Prob. 3PSBCh. 9 - Prob. 4PSBCh. 9 - Prob. 5PSBCh. 9 - Prob. 6PSBCh. 9 - Prob. 9SPCh. 9 - Prob. 9CPCh. 9 - Prob. 1.1AACh. 9 - Prob. 1.2AACh. 9 - Prob. 2.1AACh. 9 - Prob. 2.2AACh. 9 - Prob. 2.3AACh. 9 - Prob. 3.1AACh. 9 - Prob. 3.2AACh. 9 - Prob. 3.3AACh. 9 - Prob. 1DQCh. 9 - Prob. 2DQCh. 9 - 3. What are the three important questions...Ch. 9 - 5. What is the combined amount (in percent) of the...Ch. 9 - 6. What is the current Medicare tax rate? This...Ch. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQCh. 9 - 12. ᴬWhat is a wage bracket withholding table? Ch. 9 - Prob. 12DQCh. 9 - Prob. 1BTNCh. 9 - Prob. 2BTNCh. 9 - Prob. 4BTNCh. 9 - Prob. 5BTN
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