Pension expense of Harvey Hotels in its income statement for the year= <u>$9.7 million
</u>.
<u>Explanation</u>:
Service cost= $7.3 million
Interest cost= $2.5 million
Amortization of prior service cost= $2.2 million
Expected return on plan assets= $2.3 million
Pension expense=?
Pension expense is decreased by amortization of net gain.
Pension expense= (Service cost+ Interest cost- Expected return on plan assets+ Amortization of prior service cost
= (7.3+2.5+2.2)-2.3
= 9.7 million
Pension expense of Harvey Hotels in its income statement for the year= $9.7 million
Answer:
Journal Entry
Date Description Debit Credit
Depletion expenses $85,260
Accumulated Depletion $85,260
Explanation:
Total cost of MIne
Cost of acquisition $464,000
intangible development cost 116,000
Obligation cost 92,800
salvage value <u> (185,600)</u>
<u> 487,200</u>
Depletion cost per ton = $487,200/4640 tons
= $105/ton
Depletion expenses for the year = $105 x 812 = $85,260
Answer:
An employee's funds grow tax deferred in the plan. They don't pay taxes on investment earnings until they withdraw their money from the plan. An employee will pay income taxes and possibly an early withdrawal penalty if they withdraw their money from the plan.
Explanation:
I hope this helps. :D
Answer:
The correct answer is 44.73 days or 45 days.
Explanation:
According to the scenario, the computation of the given data are as follows:
We can calculate the day's sales uncollected by using following formula:
Day's sales uncollected = No. of days in year ÷ Debtor turnover ratio
Where, Debtor turnover ratio = Sales ÷ Accounts receivable
= $607,500 ÷ $74,422
= 8.16
So, by putting the value, we get
Day's sales uncollected = 365 days ÷ 8.16
= 44.73 days or 45 days.
C as time is a cost they chose to spend to attend this concert when they could've used their time more efficiently with other things.
