FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Under IFRS, the amounts of long-term employment benefits, such as paid absences and unrestricted sabbaticals, as well as short-term benefits during employment, such as sick leave and vacation pay, are often estimates that need to be remeasured. How are these remeasurements reflected on the financial statements? O Both are included in other comprehensive income. O Remeasurements of long-term employment benefits are included in other comprehensive income, while remeasurements of short-term benefits are included in net income O Both are included in net income. O Remeasurements of long-term employment benefits are included in net income, while remeasurements of short-term benefits are included in other comprehensive income.arrow_forward12-Under ERISA , if requested in writing , what information must the administrator of the pension fund supply to the participants ?arrow_forward2. Please give two examples of withholdings from employees' pay and explain whether your selected withholdings are considered required or voluntary.arrow_forward
- Discuss the role that pension funds play in company pension plans. What benefits accrue to companies who elect to use pension funds? How does the use of a pension fund change the accounting that must be done with respect to employee pension amounts?arrow_forwardQuestion 11: Total taxes before adjustments are $7,803.15 and total deposits for the quarter are $7,803.17, and the difference between the amounts is due to rounding. On what line of Form 941 is the difference recorded? Answer: A. O 7 (Current quarter's adjustment for fractions of cents) В. O 11d (Total nonrefundable credits) C. O 13b (Reserved for future use) D. O Differences less than a dollar are not recorded on Form 941.arrow_forward
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