On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,00 value bonds at 92. The company paid broker's fees and non-refunda taxes amounting to P118,896. As a result, yield rate on the bond wa Interests are collectible annually every May 31. The bonds were selli 120, 105, 98 as of December 31, 2019, December 31, 2020 and December 31, 2021; respectively. On September 30, 2021, YODA se P250,000 face value bonds for a total cost of P280,000.

On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,00 value bonds at 92. The company paid broker's fees and non-refunda taxes amounting to P118,896. As a result, yield rate on the bond wa Interests are collectible annually every May 31. The bonds were selli 120, 105, 98 as of December 31, 2019, December 31, 2020 and December 31, 2021; respectively. On September 30, 2021, YODA se P250,000 face value bonds for a total cost of P280,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Current accounting standards require that the discount rate used for pension plans be: Multiple Choice estimated future average market rates. the rates at which the pension benefits could effectively be settled. current market rate for the year. the average market rate since the beginning of the plan.
The accumulated benefit obligation measures __the shortest possible period for funding to maximize the tax deduction. __the pension obligation on the basis of the plan formula applied to years of service to date and based on future salary levels. __the level cost that will be sufficient, together with interest to provide the total benefits at retirement. __the pension obligation on the basis of the plan formula applied to years of service to date and based on existing salary levels.
For depreciable personal property placed in service in 2018, the mid quarter convention applies if more than 25% of all depreciable personal property is placed in service during the last quarter of the taxable year. True or false
Explain the purpose and use of Form W 4 from 2020 or later.
When is an individual's tax year end? Question 6 options: a) Calendar year end b) Quarterly year end c) Semi-annual period end d) Every 9 month end
How much is the annual retirement benefit expense for the year ended December 31, 2021? a. ₱ 312,902 b. ₱ 1,390,675 c. ₱ 104,301 d. ₱ 417,203
1. How much is the defined benefit cost taken to profit or loss for the year 2020? 2. How much is the net prepaid/ accrued defined benefit cost that was shown on December 31,2019 statement of financial position? if prepaid --> positive accrued --> negative
QUESTION 2 At the beginning of 2021, the following information relates to Farah Del Valle: Net Tax Owing Year 2019 $2,800 2020 9,400 2021 (Estimated) 6,700 Required: Calculate the minimum instalments that will be required and when they are due.
How much are Coca-Cola’s Projected Benefit obligation and accumulated benefit obligation at December 31, 2017, for its Pension Benefits plans?
8. How much is the plan asset at fair market value, December 31, 2021?9. How much is the accumulated benefit obligation, December 31, 2021?10. What is the prepaid(accrued) pension expense as of December 31, 2021?
Sandhill Corporation reports the following January 1, 2023 balances for its defined benefit pension plan, which it accounts for under IFRS: plan assets, $460,000; defined benefit obligation, $460,000. Other data relating to three years of operation of the plan are as follows: 2023 2024 2025 Annual service cost $34,800 $43,700 $58,600 Discount rate 10% 10% 10% Actual return on plan assets 37,100 50,040 54,000 Funding of current service cost 34,800 43,700 58,600 Funding of past service cost 74,000 78,500 Benefits paid 31,500 37,490 49,000 Past service cost (plan amended, 1/1/24) 348,000 Change in actuarial assumptions establishes a December 31, 2025 defined benefit obligation of 1,196,000
how are you getting $10,815 for the adjusted balance?