Professional Documents
Culture Documents
1A
Note 14,160,000.00
A/P 1,947,000.00
Senior bonds 35,400,000.00
Accrued expenses 1,239,000.00
52,746,000.00
2A
1,000 x 140 140,000.00
3D
Cost of patent 51,000.00
life 10.00
Annual amortization 5,100.00
July 1- dec 31 2,550.00
4 A percentage ownership
2000/20000 10%
Dividend
480000 x 10% 48,000.00
7 A The out of court settlement was not accepted, hence not to be used as basis.
18 A
Accounts payable 510,000.00
Accrued 60,000.00
credit balance 54,000.00
coupons 240,000.00
864,000.00
19 B
Accounts Receivable. Beg 670,000.00
Sales 7,980,000.00
Accounts Receivable, end (910,000.00)
Collection 7,740,000.00
Cost of GS 5,830,000.00
Inventory, end 780,000.00
Inventory, beg (860,000.00)
Purchases 5,750,000.00
20 B
Income before income tax 9,000,000.00
interest income (700,000.00)
depreciation tax (1,300,000.00)
Warranty 600,000.00
Actual warranty (300,000.00)
7,300,000.00
Tax rate 35%
Tax liability current 2,555,000.00
21 B
Inventory, beg 500,000.00
purchases 400,000.00
Cost of goods sold (700,000.00)
Inventory, end 200,000.00
Per count 80,000.00
shortage 120,000.00
22 C
Cost of Goods Sold 7,800,000.00
FG, end 2,250,000.00
FG, beg (2,200,000.00)
Cost of Goods Manufactured 7,850,000.00
Goods in Process, end 2,100,000.00
Goods in Process, beg (1,850,000.00)
Goods placed in process 8,100,000.00
Direct labor (2,200,000.00)
Manufacturing OH (1,650,000.00)
Raw Materials Used 4,250,000.00
Raw Materials
Freight in 150,000.00
Raw Materials, beg 900,000.00
Purchases 4,000,000.00 800,000.00 RM, end (squeezed)
23 D No dividend income
24 C Land Building
Cost 800,000.00
Legal and registration 9,000.00
Demolition 10,000.00
Proceeds (3,000.00)
Construction 1000000
architect 20000
816,000.00 1020000
25 D Machinery
Cost 1,000,000.00
27 B Replacement 750,000.00
Major improvements 350,000.00
1,100,000.00
28 C
Sales price 2,000,000.00
Book Value
Cost 2,800,000.00
RV 300,000.00
Depreciation per year 250,000.00
Time elapsed 3 3/4
A/ Depreciation 937,500.00 1,862,500.00
Gain from sale 137,500.00
34 B
Issued shares 2,400,000.00
Treasury shares (390,000.00)
Net income 1,500,000.00
3,510,000.00
35 B
Share in net income from July 1 to Dec 31
1200000 x 6/12 x 30% 180000
Interest acquired
30,000/100,000 30%
36 A
Beg 2,120,000.00
PY adjustments (215,000.00)
Appropriation (300,000.00)
Net Income 760,000.00
Stock dividend (500,000.00)
Fire loss (175,000.00)
1,690,000.00
45 D Segment B
Sales 500,000.00
Traceable cost (225,000.00)
Indirect expense
Total 240,000.00
Ratio from segment's total sales 0.33 (80,000.00)
Segment Profit 195,000.00
46 D Inventory, beg 1,200,000.00
Purhcases 2,000,000.00
Inventory, end (1,100,000.00)
Cost of Goods Sold 2,100,000.00
47 B
Inventory, beg 2,000,000.00
Purchases 7,500,000.00
Puchase R & A (500,000.00)
Inventory, end (2,800,000.00)
Cost of Goods Sold 6,200,000.00
48 D
Selling Expense 1,250,000.00
Cost of goods is six times Selling Expense 6.00
Cost of Goods Sold 7,500,000.00
Cost of Goods Sold 7,500,000.00
Inventory, end 500,000.00
Inventory, beg (400,000.00)
Net Purchaes 7,600,000.00
Freight In (300,000.00)
Purchae Returns 900,000.00
Purchases 8,200,000.00
49 B
Rent Income 600,000.00
Accrued Rent, end (40,000.00)
Accrued Rent, Beg 30,000.00
Unearned Rent, beg (50,000.00)
Unearned Rent, end 75,000.00
615,000.00
50 D
Allowance written off 100,000.00
Increase in allowance 250,000.00
350,000.00
Allowance for DA
Beg 650,000.00
Written off (525,000.00)
Recovery 50,000.00
Balance 175,000.00
Doubtful Accounts Expense 500,000.00
75 B 2,011.00
Future deductible amount - warranty 400,000.00
enacted tax rate 35%
Deferred tax asset 140,000.00
76 D Taxable inocme for 2010 1,040,000.00
Tax rate 35%
364,000.00
The application guidance of PFRS 9, paragraph B5.12 provides that amounts recognize in
other comrpehensive income are not susequently transferred to profit or loss, but to equity - RE
99 B Shares Cost
1/1/2008 20000 x 110 20,000.00 2,200,000.00
4/1/2008 5000 x 100 5,000.00 500,000.00
12/31/2008 10% x 2,500,000 (250,000.00)
12/31/2009 10% x 2,500,000 (250,000.00)
12/31/2010 25,000 x 110 25,000.00 2,750,000.00
12/31/2011 25,000 x 92 (25,000.00) (2,300,000.00)
25,000.00 2,650,000.00
100 C
1/1/2008 20000 x 110 20,000.00 2,200,000.00
4/1/2008 5000 x 100 5,000.00 500,000.00
1/1/2010 50% x 25,000 12,500.00 -