smoothly and all remaining customer orders are completed, terminate all 200 employees as a result of economic downturn. The entity shall pay P20,000 per employee upon termination At the beginning of current year, Oro Company announced a decision to close a factory located in Mindanao and the entity needs to retain at least 20% of employees until However, to ensure that the windup of the factory occurs to stay until the closing of the factory shall receive P60,000 As a result, the entity announced that employees who agree 3. What is the short-term employee benefit? Problem 19-16 (IFRS) and closure of the factory in eight months. to stay until the closing of the factory shall receive P60 00 payment at the end of eight months in addition to receivin their current wage throughout the period of closure instea of the P20,000. Based on this offer, the entity expected to retain 50 employes until the factory is closed. 1. What is the total benefit under the termination plan? a. 6,000,000 b. 3,000,000 c. 4,000,000 d. 8,000,000 2. What is the termination benefit? a. 4,000,000 b. 3,000,000 c. 6,000,000 d. 2,000,000 3. What is the short-term employee benent: a. 2,000,000 b. 3,000,000 c. 4,000,000 d.
smoothly and all remaining customer orders are completed, terminate all 200 employees as a result of economic downturn. The entity shall pay P20,000 per employee upon termination At the beginning of current year, Oro Company announced a decision to close a factory located in Mindanao and the entity needs to retain at least 20% of employees until However, to ensure that the windup of the factory occurs to stay until the closing of the factory shall receive P60,000 As a result, the entity announced that employees who agree 3. What is the short-term employee benefit? Problem 19-16 (IFRS) and closure of the factory in eight months. to stay until the closing of the factory shall receive P60 00 payment at the end of eight months in addition to receivin their current wage throughout the period of closure instea of the P20,000. Based on this offer, the entity expected to retain 50 employes until the factory is closed. 1. What is the total benefit under the termination plan? a. 6,000,000 b. 3,000,000 c. 4,000,000 d. 8,000,000 2. What is the termination benefit? a. 4,000,000 b. 3,000,000 c. 6,000,000 d. 2,000,000 3. What is the short-term employee benent: a. 2,000,000 b. 3,000,000 c. 4,000,000 d.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 19RE
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Transcribed Image Text:The entity shall pay P20,000 per employee upon termination.
payment at the end of eight months in addition to receiving
terminate all 200 employees as a result of economic downturn.
the entity needs to retain at least 20% of employees until
to stay until the closing of the factory shall receive P60,000
smoothly and all remaining customer orders are completed,
However, to ensure that the windup of the factory occurs
As a result, the entity announced that employees who agree
3. What is the short-term employee benefit?
Problem 19-16 (IFRS)
and
closure of the factory in eight months.
As a result, the entity announced that employees who o
to stay until the closing of the factory shall receive P6000
payment at the end of eight months in addition to receiri
their current wage throughout the period of closure insteai
of the P20,000.
Based on this offer, the entity expected to retain 50 employees
until the factory is closed.
1. What is the total benefit under the termination plan?
a. 6,000,000
b. 3,000,000
c. 4,000,000
d. 8,000,000
2. What is the termination benefit?
a. 4,000,000
b. 3,000,000
c. 6,000,000
d. 2,000,000
3. What is the short-term emplovee benefit?
a. 2,000,000
b. 3,000,000
c. 4,000,000
d.
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