Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer from number 17 and 18 please answer number 17 and 18 The following trial balance of PT XYZ Company at December 31, 2014

image text in transcribed

image text in transcribed

please answer from number 17 and 18

please answer number 17 and 18

The following trial balance of PT XYZ Company at December 31, 2014 has been adjusted except for income tax expense. Cash Accounts receivable - net Prepaid taxes Inventory Fixed assets Accounts payable Share capital Retained earnings Foreign currency translation adjustment Revenues Expenses Total 5,000,000 8,000,000 1,750,000 6,000,000 - 20.150 17,000,000 10,000,000 20,000,000 5,000,000 2,250,000 15,000,000 10,000,000 50,000,000 50,000,000 During 2014, estimated tax payments of Rp1,750,000 were charged to prepaid taxes. XYZ has not recorded yet income tax expense. The tax rate is 35%. Included in accounts receivable is Rp3,000,000 due from a customer. Special terms grante Page 416 M NS,MALARS uguul TTU. to this customer require payment in equal semiannual installment of Rp 20.000 every April 1 and October 1. 17. In XYZ's December 31, 2014 statement of financial position, what amon be reported as total current assets? nancial position, what amount should a. 20,750,000 b. 18,750,000 c. 17,000,000 d. 19,000,000 18. In XYZ's December 31, 2014 statement of financial positio be reported as retained earnings? er 31, 2014 statement of financial position, what amount should a. 10,000,000 b. 8,250,000 19. PT LOC c. 7,750,000 d. 6,000,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren

3rd Canadian edition

1-119-40285-5, 111940276X, 978-1119566007

More Books

Students also viewed these Accounting questions

Question

How were the HR functions affected by Hurricane Rita?

Answered: 1 week ago

Question

How can either be made stronger?

Answered: 1 week ago