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timurjin [86]
3 years ago
8

A government has a single-employer defined benefit pension plan for the employees of its Electric Utility Enterprise Fund. On De

cember 31, 2020, the government had a total pension liability for the plan of $1,300,000 and accumulated pension plan assets to pay the liability of $780,000. The assets to pay the liability are reported as a part of the Enterprise Fund's unrestricted fund balance. Assuming no pension liability had been recorded in the Enterprise Fund on December 31, 2019 and there is no pension related deferred inflows or outflows of resources, what journal entry does the government need to make to record the government's pension liability on December 31, 2020 in its Enterprise Fund?
Business
1 answer:
Natasha_Volkova [10]3 years ago
4 0

AnswerEnterprise Fund Dr. 1,300,000

Pension Fund CR. 1,300,000

Narration recognition of outstanding pension fund.

Note This will throw the Enterprise fund into a deficit of $520,000

To provide for the deficit

Income Dr. 520,000

Enterprise fund CR 520,000

Narration. Recognition of pension not covered by asset.

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A company has a factory that is designed so that it is most efficient (average unit cost is minimized) when producing 18,300 uni
PtichkaEL [24]

Answer: 14.9%

Explanation:

18300/12770x100%

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2 years ago
A shoe company invests $300,000 in equipment to produce a new line of athletic footwear. Each pair of shoes costs $15 to produce
jekas [21]

Pair of footwear costs $15 to supply and sells for $70.A shoe organization sells 5455 gadget pairs of shoes.

The costs function refers back to the useful dating between cost and output. It studies the behavior of price at distinctive ranges of output while generation is assumed to be steady. it may be expressed as under C= f(Q) (here, C= price of production; and Q= Quantum of output).

The Costs function measures the minimal value of producing a given degree of output for some fixed element costs. The fee feature describes the economic opportunities of a company. type of quick-run price features: average (total) fees. average constant charges.

A price feature is a characteristic of input expenses and output quantity whose cost is the price of making that output given the ones enter prices, often carried out via using the cost curve with the aid of agencies to reduce fees and maximize manufacturing performance.

Learn more about  costs function here: brainly.com/question/2292799

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5 0
1 year ago
Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record
Vlada [557]

Answer:

The Journal entries are as follows:

(i)

Accumulated Depreciation - Machine Equipment A/c Dr. $92,600

Loss on Disposal A/c Dr. $34,000

  To Machine Equipment                   $126,600

(To record the disposal)

(ii)

Cash A/c Dr. $17,500

Accumulated Depreciation - Machine Equipment A/c Dr. $92,600

Loss on sale/disposal A/c Dr. $16,500

    To Machine Equipment                     $126,600

(To record the sale)

(iii)

Cash A/c Dr. $34,000

Accumulated Depreciation - Machine Equipment A/c Dr. $92,600

    To Machine Equipment                     $126,600

(To record the sale)

(iv)

Cash A/c Dr. $40,900

Accumulated Depreciation - Machine Equipment A/c Dr. $92,600

    To Gain on sale/disposal A/c            $6,900

    To Machine Equipment                     $126,600

(To record the sale)

4 0
3 years ago
EA2.
Nadya [2.5K]

Answer:

$130,500

Explanation:

Given that,

service revenue = $720,000

Total cost (fixed and variable) per client = $2,500

Served = 115 clients during the year

operating expenses = $302,000

Gross profit:

= Service revenue - Total cost

= $720,000 - ($2,500 × 115)

= $720,000 - $287,500

= $432,500

Net income = Gross profit - operating expenses

                    = $432,500 - $302,000

                    = $130,500

7 0
3 years ago
RST consulting has offices in different locations around the country. Each division is self-contained and caters to the needs of
victus00 [196]

Answer:

The correct answer is geographic structure.

Explanation:

An organizational structure is the official design of a company's staff. The structure clearly defines the relationships of subordination, the authority in decision-making, and the physical location of employees of various departments. A geographic organizational structure groups representatives of each functional department into units formed to serve a specific market or region. Geographic units can be highly effective if they are located within the regions that serve and employ workers in the local work environment.

3 0
3 years ago
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