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Midterms Intacc

This document contains chapter summaries and answer sheets for accounting topics such as derivatives, bonds payable, liabilities, provisions, and premium and warranty liabilities. It includes questions and answers related to these topics. The document appears to be study materials or notes for an accounting course.

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GianJoshuaDayrit
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43 views13 pages

Midterms Intacc

This document contains chapter summaries and answer sheets for accounting topics such as derivatives, bonds payable, liabilities, provisions, and premium and warranty liabilities. It includes questions and answers related to these topics. The document appears to be study materials or notes for an accounting course.

Uploaded by

GianJoshuaDayrit
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
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Chapter 23-24 (Derivatives)

Answer Sheet- Chapter 23-24 (Derivatives)


Chapter 5-4 (Bonds Payable & Effective Interest Method)
Chapter 1 & 4 (Liabilities & Provision)
Answers- Chapter 1 & 4

1. Yes
2. There’s an obligation to deliver a noncash asset
3. Yes
4. No
5. Dividends not yet declared
6. Yes (onerous contract)
7. No
8. Yes
9. Present Value
10. Amortized Cost
11. Breach of Contract
12. Trade payable that is due within the operating cycle
(due w/in – current; if not – non current)
13. Non-current
14. Non-current (Refinancing)
15. Current- violation of covenant
16. Subsequent events
17. Contingent
18. Disclosed
19. 2,500,000
20. Probable
21. Measurable
22. 3,200,000
23. Adjusting events
24. Yes (adjusting events)
25. No (condition does not exist in the said date)
26. When it is virtually certain
27. Obligating event
28. 5,400,000
29. Yes
30. Non-current (bank loan)
*if trade payable (current)
Answers- Take Home Quiz
Questionnaire- Take Home Quiz
Chapter 1 & 3 (Premium Liability & Warranty Liability)
Answer Sheet- Chapter 1 & 3 (Premium Liability & Warranty Liability)

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