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10.
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Part 2
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2.
3.
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6.
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8.
9.
10.
11.
12.
13.
14.
Choice (a), however, if this is not available then choice (b
Choice (a), however, if this is not available then choice (b)
Increase in equity
Liability
Choice (a), however, if this is not available then choice (b)
Immediately as expense and as an increase in equity at grant date.
Make a transfer from one component of equity to another
Make a transfer from one component of equity to another
Only if they are beneficial to the employee
As additional expense over the remainder of the vesting perio
Juice co- None
Milk Co- April 1, 2017
Coffee Co- Dr., Equipment ₱12,000
Water Co- Mar. 1 Dr., Advertising expense, ₱900,000
ABC Co.-10,000 Jan. 1 Dr., Compensation expense ₱150,000
ABC Co. grants 1,000-share premium 1,000,000
Laser Co salaries.- ₱400,000
Salaries- ₱455,000
ABC Co., grants- ₱180,000
ABC Co. grants- 155,550
, ABC Co., grants 100- 4,250
Cash settled share-based payment transaction
As liability
The fair value of the share appreciation rights
Measured at fair value on initial recognition, at the end of each
subsequent period, and on settlement date
A compound financial instrument
Either a or b but not both
Coke Co. granted- 4,400
Royal Co.- 131,360
Sprite Co.- 150,000
Mirenda Co- Credit, Accounts payable ₱110,000
- Credit, Share capital ₱100,000
Credit, Share premium 10,000
, Mountain Dew Co- 40,000
₱10,000
1.
Appropriately classifying them as regular liabilities in the
statement of financial position
2.
Customer loyalty program
3.
Points
4.
Fair value of the award credits
5.
Shall be recognized initially as deferred revenue and subsequently
recognized as revenue upon the redemption of the award credit
6.
When the machines are sold
7.
Decrease and DecreasE
8.
A liability of uncertain timing or amount
9.
All of the above
10. Midpoin
11. Reflects the weighing of all possible outcomes by their associated
probabilities
12. Is the individual most likely outcome adjusted for the effect of
other possible outcome
13. The reimbursement shall not be treated as separate asset and
therefore “netted” against the estimated liability for the provision
14. Neither a nor
15. Provisions shall be recognized for future operating losseS
16.
Future refurbishment costs due to introduction of a new
computer system
17. Both a and b
18. Neither a and b
19. Be post-tax discount rate
20. Restructuring
21. Fundamental reorganization of an entity that has an immaterial
and insignificant impact on its operation
22. Big bath provision
23. Contractually required costs of retraining staff being made
redundant from the division being close
24. Possible obligation that arises from past event and whose
existence will be confirmed only by the occurrence or
nonoccurrence of one or more uncertain future events not wholly
within the control of the entity
25. A contingent liability is both probable and measurable
26. Contingent asset
27. A contingent asset is only disclosed when the occurrence of the
future event is possible or remote
28. Remote
29. Be accrued by debiting an expense account and crediting a
liability account
30. Realized
31. A disclosure only
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
In the notes to the financial statement
Uncertain as to timing or amount
The occurrence of the future event is probable and the amount
can be reasonably estimate
A new product introduced by Eaut-54,000
lawsuit against Scruicer Company-750,000
Jekyll Company-550,000
Ethel Company’s-628,000
, Pains Company-135,000
Greco Company- 21,000
A court case decided- 0
lawsuit against Monica Company- 500,000
Mary Company plant- An accrued liability of ₱500,000
Gallery Department- ₱400,000
Goverance Inc- ₱70,248
, West Company- None
Home Company- An accrued liability of ₱500,000 and would
disclose a contingent liability
Hope guarantee- Recognize a provision for liability of ₱200,000
and also disclose in the notes to financial statemen
Milder Company- The contingent liability should be disclosed by
way of note to the financial statements
1.
Taxable profit
2.
Taxable temporary difference
3.
Deferred tax liability
4.
Current tax expense
5.
Increase in deferred tax liability less the increase in
deferred tax asset
6.
The entity has a legal enforceable right to offset a current
tax asset against a current tax liability
7.
Taxable temporary differences
8.
When an entity makes a distinction between current and
noncurrent assets and liabilities, it shall classify
9.
Deductible temporary differences and carryforward of
unused tax
10. Neither I nor
11. Expenses or losses that are deductible before they are
recognized in accounting income
12. Excess of tax depreciation over accounting depreciation
13. Use of straight line depreciation for accounting purposes
and an accelerated rate for income tax purposes
14. Unearned revenue
15. Warranty expenses are recognized on the accrual basis for
financial accounting purposes but recognized for tax
purposes
16. A noncurrent liability
17. Paying fines for violation of laws
18. Enacted tax rat
19. Tax expense shown in the income statement is equal to
income taxes payable for the current year plus or minus the
change in the
20. Associates tax effect with different items in the income
statement
21. Hilton Company-₱1,770,000
22. Aris Company- 1,140,000
23. Tiger Company- 1,650,000
24. Canterbury Company- 1,290,000
25. Cascade Company- 4,400,000
26. Ankh Company- 0
27. West Company- 600,000
28. Caleb Company- 80,000
29. North Company- 0
30. Aloha Company- 156,000
31. Shin Company- 80,000
32. Bolton Company- 900,000
33. Glory’s December- ₱60,800
34. Toner Company-320,000
35. Mule Company- 1,750,000
36. ₱385,000
37. 2,100,000
38. 3,465,000
39. Easy Company acquired-1,750,000
40. 750,000
41. 2,700,000
42. 600,000
43. 2,550,000
44. 1,400,000