What is the total amount that was disclosed as compensation to key management personnel for the parent company of LBP Co. in 2014? a. 211678b. 189682c. 188806d. 170038 Compensation of key management personnel:GroupParent2013201420132014Short-term employee benefitsPost-employment benefits133,61432,821121,11331,141115,80927,754106,42126,189Group2013201445,24337,428Parent2014201345,243Other long-term benefits37,428211,678189,682188,806170,038Terms and conditions of transactions with related parties:The sales to and purchases from related parties are made at normal market prices andsettlement is made in cash. There have been no guarantees provided or received forany related party receivables or payables. For the years ended December 31, 2014 and2013, the Group has not made any provision for doubtful accounts relating to amountsowed by related parties. This assessment is undertaken each financial year throughexamination of the financial position of the related party and the market in which therelated party operates.

Compensation is the amount of money which has been earned by the employees of the company or which…

Answered: What is the total amount that was…

What is the total amount that was disclosed as compensation to key management personnel for the parent company of LBP Co. in 2014?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 3BD

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Question

What is the total amount that was disclosed as compensation to key management personnel for the parent company of LBP Co. in 2014?

a. 211678

b. 189682

c. 188806

d. 170038

Compensation of key management personnel:
Group
Parent
2013
2014
2013
2014
Short-term employee benefits
Post-employment benefits
133,614
32,821
121,113
31,141
115,809
27,754
106,421
26,189
Group
2013
2014
45,243
37,428
Parent
2014
2013
45,243
Other long-term benefits
37,428
211,678
189,682
188,806
170,038
Terms and conditions of transactions with related parties:
The sales to and purchases from related parties are made at normal market prices and
settlement is made in cash. There have been no guarantees provided or received for
any related party receivables or payables. For the years ended December 31, 2014 and
2013, the Group has not made any provision for doubtful accounts relating to amounts
owed by related parties. This assessment is undertaken each financial year through
examination of the financial position of the related party and the market in which the
related party operates.

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