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Financial Contingency Overview

This document appears to be a set of practice questions and solutions for an accounting exam. It contains 50 questions that are either multiple choice or require numerical calculations. The questions cover a wide range of accounting topics including financial statements, receivables, investments, liabilities, and financial reporting standards.

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Novilyn Tendido
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7 views15 pages

Financial Contingency Overview

This document appears to be a set of practice questions and solutions for an accounting exam. It contains 50 questions that are either multiple choice or require numerical calculations. The questions cover a wide range of accounting topics including financial statements, receivables, investments, liabilities, and financial reporting standards.

Uploaded by

Novilyn Tendido
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

ANS QUE SOL

1. 200000

2 751310

1000000x 0.75131 = 751,310


3) 8,300,000

4 Elements

5. 11000000
6)

7 ) 122,760 for now


search ko pa mamaya

8) A P500,000-time
deposit which matures
on one year
9) 6860

10) 10,680,000
11)
a) Impairment loss=
P2,965,000
b) Interest income =
P589,600
c) CA, 12/31/2019 =
4,949,600
12) 53,000

13 going concern
concept

14. COST
15. confirmatory value

16.)

17. Postdated Check

18. information that


helps an investor form
an opinion about a
company's future cash
flows
19. 48,000,000

20. All of these

21. 350,000 Uncollectible Expense

Balance of allowance increases 250,000


Entity write-off receivable balance 100,000
Total expense on July 350,000

22. An analysis of the


accounts whether or not
they are past due.
23. Faithful
representation and
relevance

24.
1. 5,400,000
2
3. 9,400,000
4. 6,550,000

Not sure

25. 28,400
26

27)

1. 3,160,300
2. 189,618
3. 3,109,918
4. 186,595.08000

28. 6,500,000
29

30 10000 10000

Di kasama overdraft?? Di
ko sure eh may nakita
ako isinama. Pinattern ko
lang

31 Financial Reporting
Standards Council
32 . 64000

33

34 Allowance method

35 11000
36 not sure
A 3-year treasury note
maturing on May 30,
2003 purchased by the
enterprise on January 2,
2003

37physical capital
maintenance

38 B) Liabilities
39 8050000
40

41

42

43

44

45

46

47

48

49

50

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