PAS 19
Q: Diamond Visual Entertainment Inc. recently began production of a new product, flat panel displays, w...
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This bra...
Q: E22-3 Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. V...
A: Fixed cost remains constant at all levels of output. Only variable cost changes with the production ...
Q: The partnership of Anthony and Davis had an unprofitable year and agreed to liquidate their business...
A: Partnership liquidation refers to the closing down of business operations by selling the non-cash as...
Q: Reimbursement of operating expenses analysis is the example of choice. Construction audit Com...
A: Operating expense is defined as the expense which the business incurs by the business from its norma...
Q: Shawn Buffett's filing status is married filing separately, and he has earned gross pay of $2,680. E...
A: General Medicare Tax Rate = 1.45% Additional Medicare Withholding Rate (in case individual Medicare ...
Q: The other party assumes the liability. a. What is Sammy's recognized gain or loss? b. What is Sammy'...
A: Step 1 A recognized gain is the profit make from selling an asset.
Q: A favorable direct materials price variance and an unfavorable direct materials quantity variance mi...
A: Direct Material Price Variance = Actual Quantity Purchased x (Standard Price - Actual Price) If Dire...
Q: Accounting Question
A: Base price of the truck is the price at which truck is available which adding any adding any additio...
Q: a) You have been recruited by Education-For-ALL (EFA), an NGO providing teaching and learning suppor...
A: Accounting refers to the process of recording financial transactions of a company in its financial s...
Q: Q. 13 From the following information related to a 'Health Club', calculate the amount of subscriptio...
A: Answer: In an NPO, the main source of income beyond the entrance fee and donations is the subscrip...
Q: Explain whether the following transaction would give rise to a capital gain charge: (a) Winnin...
A: Ans) 1) Winning from Legal Gambling- It will not be charged under capital gain. It is not a capita...
Q: If the tax 2000 OMR, depreciation is 3000 OMR, amortization 1000 OMR, EBITDA to interest coverage is...
A: EBITDA means Earnings before Interest, Tax, Depreciation and Amortisations.
Q: What are the risks of automating a production process? What are the risks for a service process?
A: The production process is the process in which different activities, materials, technologies, and re...
Q: What does the balance sheet measure? What is the “Accounting Equation” used in a balance sheet?
A: Financial statements are the reports that indicate the performance of the business during the period...
Q: PAYROLLThe following describes the payroll procedures for a hypothetical company.Every Thursday, the...
A:
Q: QUESTION 17 A division is evaluated on ROI, based on ending balances for investment base. The m...
A: Return on Investment means the amount earned by a company on its investments made in the project.
Q: Ch. 31. International Capital Budgeting Using the Foreign Currency Approach. ABC Company is consider...
A: Net present value shows the excess of present value of inflows over outflows during the year.
Q: Briefly summarise the principles of accounting and financial systems based on the Australian standar...
A: Accounting is a system which begins with the recording of the transactions, and events arising in th...
Q: Answer in a memorandom entry
A: A journal entry is that the method used to record all individual financial transactions made by an...
Q: 1. The income statement provides investors and creditors information that helps them predict * d. ...
A: SOLUTION- 1 INCOME STATEMENT- IT IS A STATEMENT WHICH REPORTS AND PRESENT AN ENTITYS FINANCIAL TRANS...
Q: 3. Jordan Peters (single; 3 federal withholding allowances) earned monthly gross pay of $2,300. He c...
A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage ...
Q: Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior ...
A: Journal is the book of original entry in which all the financial transactions of business are initia...
Q: In 1990, Sunland Company completed the construction of a building at a cost of $880,000 and first oc...
A: Using Straight line method , Depreciation expense = ( Cost - salvage value ) / Useful years
Q: Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by ...
A: SOLUTION- BANK RECONCILIATION STATEMENT- IT IS A SUMMARY OF BANKING AND BUSINESS ACTIVITY THAT RECO...
Q: Devon Bishop, age 45, is single. He lives at 1507 Rose Lane, Albuquerque, NM 87131. His Social Secur...
A: Taxes are the amount of fees that is to be paid to the government on amount of income earned.
Q: Compute the direct materials cost variance using the 2-way method Shepherd Corporation has the follo...
A: Direct material variance refers to the difference between the standards and the actual data relating...
Q: 50,000 $680.000 .... .... d the percentages probably uncollect
A: Solution a: Computation of Allowance for Uncollectible Accounts Ageing Accounts Receivables % o...
Q: The standard rate of pay is 12 per direct labor hour. If the actual direct labor payroll was $51744 ...
A: Direct Labor Rate Variance is the measure of difference between the actual cost of direct labor and ...
Q: At the time that Kirby Company issued a 3-for-1 stock split, the company had 1,000 shares of $12 par...
A: 3-for-1 stock split indicates the each one stock, divided into three smaller stock.
Q: The number of shares that a corporation’s incorporation documents allows it to sell is referred to a...
A: Issued stock means the number of shares that have been issued by the company. Outstanding shares are...
Q: Blue Shoes Ltd has gone bankrupt and will not pay S10 000 to XYZ. XYZ has accounts receivable of $12...
A: The company will increase its profits by increasing the sale or reducing the expenses. The sales of ...
Q: Earthie's Shoes has 55% of its sales in cash and the remaining 45% are credit sales. Of the credit s...
A: Collection in June will be: Cash sales of June. 70% of credit sales of June. 15% of credit sales of...
Q: Smith Company provided the following information on selected transactions for 2019: Net income $...
A: Depreciation: It is a non cash expense that shows gradual fall in the value of the asset due to its ...
Q: Journalize the following transactions, using the allowance method of accounting for uncollectible re...
A: It is the duty of the accountant to record business economic and non economic transactions in the ac...
Q: Direction: Answer the following questions in problem 3: [6,7,8]
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: XYZ Company hired you as an internal control officer to help the company in developing the internal ...
A: Internal controls are the systems utilized by a company to manage risk and diminish the prevalence o...
Q: Assume for a particular capital lease the unpaid lease obligation at the beginning of the year was O...
A: Capital lease In Capital lease lessor will transferee the right of ownership of the assets to the le...
Q: Please send answer in chart format Megamart, a retailer of consumer goods, provides the following in...
A: Profit Margin = Net income / Sales Investment Turnover = Sales / Average Invested Assets
Q: P12-1 Dividend Payment Procedure: At the quarterly dividend meeting, Wood Shoes declared a cash divi...
A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...
Q: Shen purchased corporate stock for $46,500 on April 10, 2018. On July 14, 2020, when the stock was w...
A: Income tax is the amount that is paid by the taxpayers of the country from their different sources o...
Q: Marzoni's records show raw materials inventory had a beginning balance of $200 and an ending balance...
A: Raw material means the material purchased and still not enter in to the production lines. Work in pr...
Q: Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corpo...
A: 1. Standard fixed overhead rate = Budgeted fixed overhead / Practical capacity 2. Spending varianc...
Q: What is the difference between managerial and financial accounting?
A: Managerial accounting Managerial accounting is the practice of identifying, measuring, analyzing, in...
Q: You will deposit $5000 into a retirement account that earns 3% interest compounded annually. You ho...
A: Future value of the deposit = Future value of the single deposit i.e. $5000 + future value of the $5...
Q: Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are ava...
A: A budgeted statements that will be prepared for decisions making purpose and fore analysis purpose...
Q: In 1990, Sunland Company completed the construction of a building at a cost of $880,000 and first oc...
A: Straight line method of depreciation charges equal amount of depreciation on asset in each year. Ann...
Q: Standard Direct Materials Cost per Unit Billingsly Company produces chocolate bars. The primary mate...
A: Variance refers to a change between the expected value and the actual result. This term is usually u...
Q: Accounting Question
A: 1. AVERAGE OPERATING ASSETS : = ( BEGINNING TOTAL OPERATING ASSET + ENDING TOTAL OPERATING ASSET )...
Q: The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based...
A:
Q: Charlie Lilly's filing status is married filing jointly, and he has earned gross pay of $1,850. Each...
A: The social security taxes and medicare taxes are the combined taxes that are withheld under the Fede...
What are the important key points of employee benefits PAS 19 and Provisions PAS 37?
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- How should an employer's commitment for employee benefits be calculated, according to AASB 119?Write the definition, recognition, measurement, important key points and disclosure if any provided for the following: Employee benefits PAS 19According to AASB 119, how should an employer's obligation for employee benefits be measured?
- This topic is about employee benefits. Please choose the correct letter of answer.What does Compensation for employee services includes?IFRS119 Employee Benefits prescribes the accounting and disclosure requirements by employers for employee benefits. Identify the categories of employee benefits covered by this standard
- Explain Employee benefit plans.Which of the following is an indicator that an employee benefit is provided in exchange for services? the benefit is provided in accordance with the terms of an employee benefit plan the benefit is conditional on future service being provided either of the choices both of the choicesWhat should be acknowledged in the employee written permission for employer optional deductions?
