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AFAR-Answer Key

This document contains answer keys for accounting problems categorized as easy, average, and difficult. It lists numerical answers to multiple choice and short answer questions. The easy section has 10 questions, the average has 10 questions, and the difficult has 7 questions, with the corresponding monetary answer provided for each. No further context or explanations are given for the answers.

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Sarah Balisacan
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195 views

AFAR-Answer Key

This document contains answer keys for accounting problems categorized as easy, average, and difficult. It lists numerical answers to multiple choice and short answer questions. The easy section has 10 questions, the average has 10 questions, and the difficult has 7 questions, with the corresponding monetary answer provided for each. No further context or explanations are given for the answers.

Uploaded by

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

Easy
1. P10,000
2. P14,000
3. P531,400
4. P21,000 gain; 0
5. P0 (There's that phrase "anticipated purchase". The purchase hasn't happened yet although
they already acquired a hedging instrument. Since the purchase hasn't occurred yet, no
merchandise would be recorded.)
6. B
7. P1,425,000
8.
9. D
10.

Average
1. P80,000
2. P2,415,875
3. P0 (refund period not yet expired)
4. P9,615,000
5. P1,690 gain
6. P24 million
7. P6,100,000
8. P142,500
9. P294,000
10.

Difficult
1. P225,000
2. P287,000
3. P2,129,900
4. P1,134,000
5. P517,200
6. P29,700 loss
7. P175,700

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