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serious [3.7K]
3 years ago
6

The pension plan for GL Inc. requires a contribution to the plan administrator equal to 11% of employee salaries. Salaries were

$575,600 for the period. The journal entry to record the pension benefit would include a
a. credit to Cash for $63,316.

b. debit to Cash for $6,332.

c. debit to Pension Expense for $6,332.

d. credit to Salary Expense for $63,316.
Business
1 answer:
krok68 [10]3 years ago
6 0

Answer:

a. credit to Cash for $63,316.

Explanation:

Given;

Pension contribution by GL Inc. percentage = 11%

Salaries for the period = $575,600

Amount to be contributed = 11% × $575,600

                                            = $ 63,316.00  

To account for this, the required journal would be

Debit      Pension Expense        $ 63,316.00

Credit     Cash account              $ 63,316.00

The right option is a. credit to Cash for $63,316.

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You are the manager of two plants (factories) in Mexico that manufacture shoes. The combined monthly output of both plants is to
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Answer:

Explanation:

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Differentiating with respect to Q_1 to determine the marginal cost;

For firm 1, the Marginal cost MC_1 = a_1 +2a_2Q_1+3Q_1^2

For firm 2; the marginal cost MC_2 = b_1 +2b_2Q_2+3Q_2^2

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Assuming we knew the values of a_1, a_2, b_1, b_2, we can estimate the numerical value of Q_2, then replace it into the equation Q_1 = 10000 – Q_2 to find the numerical value for Q_1.

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8 0
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Melissa, the hotel manager, knows that the number of guests at her hotel has significantly decreased. therefore, corporate has m
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Melissa needs to work with the hotel department managers on how to cut costs, as a part of her<u> "resource allocator"</u> role.


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