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    kennaid's Avatar
    kennaid Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 16, 2011, 04:42 AM
    What amount should a company report at escrow accounts liability in Dec. 31 2008
    A company, a division o Philippine Realty corporation maintains escrow accounts and pays real estates taxes for Philippine's mortgage customers. Escrow funds are kept in interest-bearing accounts. Interest, less 10% 5 service fee, is credited to the mortgage's accounts and used to reduce future escrow payments. Additional information follows:

    Escrow accounts liability, Jan 1, 2008 P 900,000
    Escrow payments received during 2008 1,500,000
    Real estate taxes paid during 2008 1,900,000
    Interest on escrow funds during 2008 90,000
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Jun 16, 2011, 04:52 AM
    Thank you for taking the time to copy your homework to AMHD.
    Please refer to this announcement: CLICK HERE !!
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