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Rufina [12.5K]
2 years ago
7

What will be the statement of financial position of this?

Business
1 answer:
Varvara68 [4.7K]2 years ago
4 0

Answer:

ang hirap sa gutan kala ko madali lng haha

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On January 1, 2018, Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cos
Licemer1 [7]

Answer:

Pension Expense = EBE = $593440 for income statement

Explanation:

The opening balance of the Plan asset is made by the 40000 from 2018 plus interest of 32000 and the new 400000 made this year. Why include it? Because an opening balance are the funds in an account at the beginning of the year either from last year or are from current year but should be the first entry in the books of the current year.

                                                                 DBO                plan asset       EBE

opening balance                                   (600000)            832000             -

interest                                                   ( 60000)              66560            6560

current year's service cost                    (600000)                               (600000)

                                                            (  1260000 )            898560      <u> 593440</u>

 balance sheet liability = 361440

5 0
3 years ago
Read 2 more answers
Two car manufacturers, Saab and Volvo, have fixed costs of $1 billion and marginal costs of $10,000 per car. If Saab produces 50
igomit [66]

Answer:

Explanation:

First, write down Total fixed cost for each;

Fixed cost; Saab = $1,000,000,000

Fixed cost; Volvo = $1,000,000,000

Next find the Total Variable cost (TVC)

TVC = # of cars per year * marginal cost per car

Saab ; TVC = 50,000* $10,000 = $500,000,000

Volvo ; TVC = 200,000* $10,000 = $2,000,000,000

Average production cost = (Fixed cost + total variable cost) / # of cars per year

Saab = ($1,000,000,000 + $500,000,000)/ 50,000 = $30,000

Volvo = ($1,000,000,000 + $2,000,000,000)/ 200,000 = $15,000

6 0
3 years ago
The bank forecloses on Lisa's apartment complex. The property had been pledged as security on a nonrecourse mortgage, whose prin
skelet666 [1.2K]

Answer: $400,000

Explanation:

Based on the information given in the question, Lisa's recognized gain or loss will be calculated as the difference between the amount that's realized and the adjusted basis. This will be:

Recognized gain will be:

= Amount realized - Adjusted basis

= $900,000 - $500,000

= $400,000

There's a recognized gain of $400,000

6 0
3 years ago
What are the functions of depository​ institutions? The functions of depository institutions include​ _______.
Yuri [45]

Answer: Creating liquidity

Explanation:

Depository institutions includes commercial banks, credit unions, savings and loans. Depository institutions receive money from the depositors and lend out to their borrowers.

The primary function of the depository institutions is to create liquidity by making credit available to borrowers in the form of loans. Depository institutions also receive deposits from their customers in exchange for interest and then use them to create loans for people.

3 0
3 years ago
Susan orders five table settings of china from bone china. each set includes a dinner plate, cup &amp; saucer, bowl, and dessert
lianna [129]
No, she can’t do that because the person who ordered the table settings paid for what they were supposed to send so she needs to of sent them if not that’s false advertising.
6 0
3 years ago
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