Costs that can be traced are considered to be:

The funded status of Hilton Paneling Inc.'s defined benefit pension plan and the balances in prior service cost and the net gain

krok68 [10]

Answer:

1. Actual return on Plat assets

= Ending plan assets - beginning assets - employer contribution + retirees payment

= 2,591 - 2,400 - 245 + 270

= $216,000

2. Gain(loss) on plan assets

= Actual return - expected return

= 216,000 - (10% * 2,400,000-beginning assets)

= ($24,000) loss

3. Service cost

= Ending Projected benefit obligation - Beginning Projected benefit obligation - Interest cost + Retiree benefits

= 2,501 - 2,300 - (7% * 2,300) + 264

= $304,000

4. Pension expense

= Interest cost + expected return + Amortization of prior service cost + amortization of net gain + Service cost

= Interest cost + expected return + (beginning prior service cost - ending prior cost) + (Beginning net gain - ending net gain - loss on plan asset) + Service cost

= (7% * 2,300) + 240 + (325 - 300) + (330 - 300 - 24) + 304

= $736,000

5. Average remaining service life of active employees

= (Beginning Net gain - expected return) / Amortization of net gain

= (330 - 300) / (330 - 300 - 24)

= 5 years

4 0

3 years ago

Lloyd Inc. has sales of $600,000, a net income of $60,000, and the following balance sheet: Cash $145,800 Accounts payable $192,

pogonyaev

Answer:

The new quick ratio is 4.6

Explanation:

Current ratio = Current assets / Current liabilities

2 = (Cash + receivables + inventories) / (Accounts payable + other current liabilities

2 = ($145,800 + $230,040 + inventories ) / $192,780

2 = $375,840 + inventories / $192,780

$385,560 = $375,840 + inventories

Inventories = $385,560 - $375,840

Inventories = $9,720

This means that inventories worth of $881,280 [ $891,000 -$9,720] were sold.

Also, if the funds so gained are used to reduce common equity, meaning buying back the equity at book value, hence common equity is $166,860 [ $1,048,140 - $881,280]

ROE before selling off the inventory = Net income / Stockholder's equity

= $60,000 / $1,048,140

= 0.057 or 5.7%

ROE after selling off the inventory = Net income / Stockholder's equity

= $60,000 / $166,860

= 0.40 or 40%

The firm's new quick ratio

= [ Current assets - inventories] / Current liabilities

= [$1,266,840 - $9,720] / $270,540

= $1,257,140 / $270,540

= 4.6

4 0

3 years ago

Explain how mobile commerce provides easy access to stores to society

Paladinen [302]

I think it’s 20 x 345

3 0

3 years ago

What are some advantages of using a Credit card the right way?

motikmotik

it builds your credit score

8 0

3 years ago

Read 2 more answers

The following cost data pertain to the operations of Rademaker Department Stores, Inc., for the month of March. Corporate headqu

TEA [102]

Answer:

The answer is c. $40,700.

Explanation:

The direct costs of the Cosmetics Department are all the costs which are incurred for the operations & revenue generating activities of the Cosmetics Department only; which may be incurred at the Department itself or at other Department(s)/Store(s) which the purposes are for serving the Cosmestic Department.

Thus, these costs include the following cost items:

Cosmetics Department sales commissions--Northridge Store + Cosmetics Department cost of sales--Northridge Store + Cosmetics Department manager's salary = $5,160 + $31,300 + $4,240 = $40,700.

So, the answer is c. $40,700

3 0

4 years ago