Answer:
Correct answer is D, P3,900
Explanation:
Begging Allowance for doubtful account is P1,500 (96,000 - 94,500). Ending balance of Allowance for doubtful account is P3,000 (P108,000 -P105,000). We can now work back the provision for doubtful accounts that the company has made during 2008.
Beginning P1,500
Add:
Collection of written off accounts 800
Total P2,300
Less:
Written off 3,200
Total (P900)
Therefore, in order for the company to have an ending inventory of P3,000, They must have set up a provision for doubtful accounts in the amount of P3,900. Attached herewith is the T-account of allowance for doubtful accounts
Answer:
FV= $115,928.81
Explanation:
Giving the following information:
Monthly deposit= $70
Interest rate= 0.12/12= 0.01
n= 24*12= 288
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {70*[(1.01^288) - 1]} / 0.01
FV= $115,928.81
Answer:
Answer A = $9,000
Answer B = $6,400
Answer C = $7,632
Answer D = $54,000
Answer E = $71,063
Explanation:
[ find attachments for complete solutions]
Note: Complete question is attached to the attachment section
Answer:
The Amount of pension expense is $195,000
Explanation:
The computation of the amount of pension expenses reported is shown below:
Service cost $150,000
Interest on projected benefit obligation 63,000
Amortization of prior service $54,000
Less: Expected return on plan assets -$72,000
The Amount of pension expense is $195,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
