Question

The notes to the financial statements of Bayer Group, a German pharmaceutical company, report a balance of €154 million for Restructuring Provisions on December 31; for the prior year, the ending balance in this liability account was €196 million. During the current year, Bayer reports Utilizations (that is, expenditures)of €134 million, and Reversals of €$31 million. Other effects (such as exchange rate differences and changes in the scope of consolidation) reduced the balance in this account by €5 million during the current year.
a. What journal entry did Bayer make in the current year to record Utilizations and Reversals?
b. What journal entry did Bayer make in the current year to record new additions to the
Restructuring Provisionaccount?


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  • CreatedMarch 04, 2014
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