Homework Answers
Year 20X1: Employees left= 5. THerefore, balance employees= 95 and expenses for the year= 1 x 95= R95
Year 20X2: Employees Left: 10. Therefore, balance emplyees= 95-10=85 and expenses for the year= 2 x 85= R170
Year 20X3: Emplyees left=18. Therefore, balance emplyees= 85-18=67 and expenses for the year =4x67= R268
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Question Two 2 On 1 January 20X1 Kindly sets up a cash-based payment to each of its 100 employees, on condition that th...
Trevor Company's balance sheet for December 31, 20X0 is as follows: Cash 100 Accounts receivable 150...
Trevor Company's balance sheet for December 31, 20X0 is as follows: Cash 100 Accounts receivable 150 Interest Receivable 25 Inventory 120 Notes Receivable (long term) 500 Equipment, at cost 400 Accumulated depreciation, Equipment 150 Equipment, net 250 Total assets $1,145 Accounts payable 140 Wages payable 20 Unearned sales revenue 30 Paid-in-capital 600 Retained income 355 Total liabilities and $1,145 stockholders' equity The following summarized transactions occurred during 20X1: a Purchased merchandise inventory on credit, $750. Delivered merchandise to customers who...
Discontinued Operations Problem 2. On July 1, 20x1, the David Company announced its plans to sell...
Discontinued Operations Problem 2. On July 1, 20x1, the David Company announced its plans to sell Division X (a component of the company). By December 20x1, David Company had not sold the division and so it classifies the division as held for sale. During 20x1, David recorded the following revenues and expenses for the division. Sales Cost of goods sold Operating expenses Division X $700,000 600,000 300,000 On December 31, 20x1, Division X had $900,000 in assets and $825,000 of...
Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for $27,000...
Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for $27,000 more than book value. At that date, the fair value of the noncontrolling interest was $17,000 more than 40 percent of Strand's book value. The full amount of the differential is considered related to patents and is being amortized over an eight-year period. In 20X1, Strand purchased a piece of land for $70,000 and later in the year sold it to Protecto for $84,000....
again Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for...
again
Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for $40,500 more than book value. At that date, the fair value of the noncontrolling interest was $15,500 more than 40 percent of Strand's book value. The full amount of the differential is considered related to patents and is being amortized over an eight-year period. In 20X1, Strand purchased a piece of land for $64,000 and later in the year sold it to Protecto for...
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Please explain how to obtain the above answer? 54. Liverpool Ltd grants 100 options to each of its 50 employees on 1 July 2009. Each grant is conditional on the employee working for the company for t...
Please explain how to obtain the above answer?
54. Liverpool Ltd grants 100 options to each of its 50 employees on 1 July 2009. Each grant is conditional on the employee working for the company for the next 3 years. The fair value of each option at grant date is $15. Liverpool Ltd estimates that 15% of its employees will leave during the vesting period. The following table summarises the actual employee departures and revised estimates of employee departures across...
On January 2, 20X2, Hobbes Company fies a petition for reief under Chapter 11 of the...
On January 2, 20X2, Hobbes Company fies a petition for reief under Chapter 11 of the B ankruptcy Code. Hobbes had disastrous operating performance during the recent recession and needs time to reestablish profitable operations. The trial balance on January 2, 20X2, follows Debit $ 16.000 65.500 103,700 620,400 Credit Cash Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation Accounts Payable Notes Payable, 10 % Bonds Payable 12 % Interest Payable Preferred Stock Common Stock, $1 par Additional...
On January 1, 2016, Yukon Company agreed to grant its employees two weeks vacation each year,...
On January 1, 2016, Yukon Company agreed to grant its employees two weeks vacation each year, with the provision that vacations earned in a particular year could be taken the following year. For the year ended December 31, 2016, all twelve of Yukon's employees earned $1,200 per week each. Eight of these vacation weeks were not taken during 2016. In Yukon's 2016 income statement, how much expense should be reported for compensated absences? Multiple Choice $0 $9,600 $14,400 $28,800
2.On January 1, 2021, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation...
2.On January 1, 2021, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2021, Poplar Fabricators’ employees each earned an average of $900 per week. Seven hundred vacation weeks earned in 2021 were not taken during 2021. Required: 1. Prepare the appropriate adjusting entry for vacations earned but not taken in 2021. 2. Suppose that,...
finance
QUESTION 3a) On 1 January 2017, Gyamera Limited granted 100 share options to each of its 300 employees, with each of the share options being conditional upon the employee working for Gyamera Limited until 31 December 2019. At the grant date, the FV of each share option was GHC15.00. During 2017, 15 employees left Gyamera Limited and the company’s directors estimated that a total of 20% of the 300 employees would leave during the three-year period 2017-2019. At the beginning...
Trevor Company's balance sheet for December 31, 20X0 is as follows: Cash 100 Accounts receivable 150 Interest Receivable 25 Inventory 120 Notes Receivable (long term) 500 Equipment, at cost 400 Accumulated depreciation, Equipment 150 Equipment, net 250 Total assets $1,145 Accounts payable 140 Wages payable 20 Unearned sales revenue 30 Paid-in-capital 600 Retained income 355 Total liabilities and $1,145 stockholders' equity The following summarized transactions occurred during 20X1: a Purchased merchandise inventory on credit, $750. Delivered merchandise to customers who...
Discontinued Operations Problem 2. On July 1, 20x1, the David Company announced its plans to sell Division X (a component of the company). By December 20x1, David Company had not sold the division and so it classifies the division as held for sale. During 20x1, David recorded the following revenues and expenses for the division. Sales Cost of goods sold Operating expenses Division X $700,000 600,000 300,000 On December 31, 20x1, Division X had $900,000 in assets and $825,000 of...
Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for $27,000 more than book value. At that date, the fair value of the noncontrolling interest was $17,000 more than 40 percent of Strand's book value. The full amount of the differential is considered related to patents and is being amortized over an eight-year period. In 20X1, Strand purchased a piece of land for $70,000 and later in the year sold it to Protecto for $84,000....
again
Protecto Corporation purchased 60 percent of Strand Company's outstanding shares on January 1, 20X1, for $40,500 more than book value. At that date, the fair value of the noncontrolling interest was $15,500 more than 40 percent of Strand's book value. The full amount of the differential is considered related to patents and is being amortized over an eight-year period. In 20X1, Strand purchased a piece of land for $64,000 and later in the year sold it to Protecto for...
Please explain how to obtain the above answer?
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