1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zzz [600]
3 years ago
14

Pension data for David Emerson Enterprises include the following: ($ in millions) Discount rate, 10% Projected benefit obligatio

n, January 1 $ 360 Projected benefit obligation, December 31 465 Accumulated benefit obligation, January 1 300 Accumulated benefit obligation, December 31 415 Cash contributions to pension fund, December 31 150 Benefit payments to retirees, December 31 54 Required: Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.
Business
1 answer:
Gelneren [198K]3 years ago
5 0

Answer:

$123

Explanation:

Calculation to determine the service cost component of pension expense for the year ended December 31.

PENSION BENEFIT OBLIGATION

Beginning of the year Projected benefit obligation $360

Service cost ?

Interest cost $36

(10%*360)

Loss (gain) on PBO $0

Less: Retiree Benefits ($54)

End of the year Projected benefit obligation $465

Hence,

SERVICE COST= ($465-$360-$36+$54)

SERVICE COST= $123

Therefore the service cost component of pension expense for the year ended December 31 will be $123

You might be interested in
Sydney has inherited her grandmother's estate worth approximately $4.5 million. She is worried about paying taxes on the estate
weeeeeb [17]

Answer:

She pays the inheritance tax , while the estate is responsible for the estate tax.

Explanation:

Inheritance tax is a form of tax that every beneficiary of an inherited estate must pay. Regardless of the situation and location of the inherited property , inheritance tax is calculated individually for different beneficiary.

The estate in which a particular property is located is responsible for the estate tax. This is calculated based on the value of the property and paid by the estate management for all properties within the estate before rents are remitted to the landlords.

4 0
3 years ago
Read 2 more answers
Anthony, a self-employed plumber, makes a maximum contribution to a SEP for his employee, Debra. Debra's compensation is $40,000
aksik [14]

Answer:

$10,000

Explanation:

The maximum contribution you can made to SEP shall not exceed the lower of the following two limits for 2020:

1. 25% of total compensation paid to employee.

2. $57,000

By applying the above rule to the given scenario in question, the maximum contribution allowed by the Anthony to be made to SEP for Debra shall not exceed:

25% of total compensation=25%*40,000=$10,000

7 0
2 years ago
Using the following year-end information for WorkFit calculate the acid-test ratio:
ASHA 777 [7]

Answer:

0.97

Explanation:

The computation of the acid-test ratio is given below:

= Quick assets ÷ current liabilities

= (cash + short term investment + account receivable + supplies) ÷ (accounts payable + wages payable)

= ($58,110 + $14,000 + $58,000 + $5,600) ÷ ($108,000 + $31,900)

= $135,710 ÷ $139,900

= 0.97

7 0
2 years ago
During January, its first month of operations, Flint Company accumulated the following manufacturing costs: raw materials purcha
VashaNatasha [74]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
3 years ago
The difference between the upper specification and the lower specification for a process is 0.600.60. The standard deviation is
Arte-miy333 [17]

Answer:

1

Explanation:

The computation of the process capability ratio is shown below:

As we know that

Process capability ratio is

= (USL - LSL) ÷ (6 ×  Standard Deviation)

where USL = Upper Specification Limit

LSL= Lower Specification Limit

Their difference is 0.600

And, the standard deviation is 0.100

Now placing these values to the above formula

So, the process capability ratio is

= 0.600 ÷ (6% × 0.10)

= 1

6 0
3 years ago
Other questions:
  • FDR is credited with increasing federal government in an attempt to relieve the Great Depression by A) overriding Congress and s
    11·2 answers
  • There is often only one provider of cable television services in each region of the country: Time Warner is in New York, Comcast
    6·1 answer
  • Suppose that you are a member of the Board of Governors of the Federal Reserve System. The economy is experiencing a sharp rise
    14·1 answer
  • Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction
    13·1 answer
  • A company incurs costs of $38 per unit ($27 variable and $11 fixed) to make a product that normally sells for $56. A wholesaler
    11·1 answer
  • Which of the following illustrates the law of demand? a. Jorge buys fewer pencils at $2 per pencil than at $1 per pencil, ceteri
    9·1 answer
  • 3. If the interest rate at the bank for a savings account is 0.03%, how much money would you need to leave in the account for on
    6·1 answer
  • At a movie the ater box office, all tickets are pre-numbered. At the end of each day, the beginning ticket number is subtracted
    13·1 answer
  • The warsaw pact was a merger of communist nations after world war ii as a reaction to this alliance of democratic nations
    15·1 answer
  • Question 1-12
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!