Interest payment dates of a bond issue are March 1 and September 2021. The bond was issued on June 30, 2021. Interest expense for the year ended December 31, 2021 would be for (a)   months.

Wangsheng Funeral Parlor’s defined benefit plan provides a monthly pension of 3% of final salary for each year of service. The pension is payable at 65.

Hu Tao is an employee of Wangsheng Funeral Parlor. It was estimated that Hu Tao’s final salary level will be 45,000 per month.

How much benefit is attributed for each year of service rendered by Hu Tao?

(a)  

Under PAS (a)   , If shares are partly entitled to dividend, such shares shall be treated as partly outstanding.

Paimon provides a 2-year warranty for products sold. Estimated cost of warranty is 3% in the year of sale and 5% after the year of sale.

Information on Paimon’s sales are shown in the table above. How much is the balance of the warranty obligation on Dec. 31, 2021 assuming those pertaining to 2020 sales have not yet expired as of 2021 year-end?

(a)  

It is offering an asset as collateral security to the lender

(a)  

Gross billings for merchandise sold by Second Life to its customers last year amounted to 13,720,000; sales returns and allowances were 370,000, sales discounts were 175,000, and freight out was 140,000.

Net sales last year were

(a)  

It is a predetermined amount withheld by a factor as a protection against customer returns, allowances and other special adjustments

(a)  

Yoimiya Company has the following items: write-down of inventories 480,000; loss on disposal of equipment in Good Hunter amounting 740,000; and loss due to an asset impairment 452,000. Ignoring income taxes, what total amount should Yoimiya report as other income and expense?

(a)  

This standard requires inventories to be measured at the lower of cost and net realizable value (NRV) and outlines acceptable methods of determining cost, including specific identification (in some cases), first-in first-out (FIFO) and weighted average cost.

(a)