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Helen [10]
2 years ago
10

The projected benefit obligation was $440 million at the beginning of the year. Service cost for the year was $48 million. At th

e end of the year, pension benefits paid by the trustee were $25 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $24 million although it was expected to be only $23 million.
What was the pension expense for the year?
Business
1 answer:
balu736 [363]2 years ago
7 0

Answer:  $47 million

Explanation:

Pension expense arises as a result of the amounts owed to employees in relation to pension liabilities.

It is calculated by;

= Service Cost + Interest expense - Expected return on plan assets +  Amortization of prior service cost + Amortization of net loss

= 48 + ( 440 * 5%) - 23

= $47 million

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This information relates to Pharoah Co..
monitta

Answer and Explanation:

The journal entries are shown below:

On April 5

Inventory Dr $28,600.00  

     To Accounts payable  $28,600.00

(Being purchase of inventory on account is recorded)

On April 6  

Inventory Dr $580.00  

      To Cash  $580.00

(Being freight payment is recorded)  

On April 7

Equipment Dr $32,000.00  

      To Accounts payable  $32,000.00

(Being purchase of equipment is recorded)  

On April 8

Accounts payable Dr $3,500.00  

      To Inventory  $3,500.00

(Being purchase returns is recorded)  

On April 15

Accounts payable Dr $25,100.00 ($28,600- $3,500)  

      To Cash  $24,096.00

      To Inventory  $1,004.00 ($25,100 × 4%)

(Being payment to the supplier is recorded)  

5 0
3 years ago
Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $405,405 for real estate with land, land improvement
larisa86 [58]

Answer:

Rodriguez Company

Purchase price = $405,405

Land is appraised at $202,500

Land improvements $67,500

Building appraised at $180,000

Total appraised value $450,000

Land will be apportioned $202,500/$450,000 x $405,405 = $182,432.25

Land improvements will be apportioned $67,500/$450,000 x $405,405 = $60,810.75

Building will be apportioned $180,000/$450,000 x $405,405 = $162,162

Total cost of assets = $405,405.

2. Journal Entries:

Debit Land $182,432.25

Debit Land Improvements $60,810.75

Debit Building $162,162

Credit Cash Account $405,405

To record the purchase of the assets.

Explanation:

The purchase price is proportionately allocated to the items based on their appraisal values.

7 0
3 years ago
You are the operations manager of a firm that uses the continuous-review inventory control system. Suppose the firm operates 52
Effectus [21]

Answer:

C. Greater than $6 but not greater than $9

Explanation:

The computation of the  unit holding cost per year is shown below:

As we know that

Economic\ order\ quantity = \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

where,

Annual demand is 450 × 52 weeks = 23,400 units

Ordering cost is $35 per order

Economic order quantity is 468 units

Now placing these values to the above formula

468\ units = \sqrt{\frac{2\times \text{23,400}\times \text{\$35}}{\text{Carrying\ cost}}}

Now to find out the carrying cost, the calculation is given below:

= (2 × 450 units × $35) ÷ 468^2

= $7.48 per unit

The carrying cost is also known as holding cost

6 0
3 years ago
One of the most important factors in forming a successful venture in China is guanxi, which means ________.
Agata [3.3K]

One of the most important factors in forming a successful venture in China is guanxi, which means personal relationships.

<h3>What is Guanxi?</h3>

Guanxi is a term that can be translated informally as social networks or personal ties. It operates on a personal, familial, social, business, and political level and entails mutual trust and duties between partners. One's influence and capacity for action are influenced by having good, bad, or no guanxi.

Guanxi is still significant while conducting business in China, but a number of considerations suggest that it may start to lose some of its significance. These include the opening up of the Chinese market, foreign direct investment, "guanxi learning" by foreign businesses, and internet intermediaries.

To know more about Guanxi refer to:  brainly.com/question/26541981

#SPJ4

6 0
2 years ago
Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she
amid [387]

Answer:

The correct answer is "she should work 16 hours per week at daycare center to earn $136.00"

Explanation:

Pham can earn at the college bookstore

$9 dollars per hour x 15 hours per week she can spend  

$9 x 15 = $135

At a café she can earn  

= $12 dollars per hour x 6 hours per week

=$12 x 6 = $72

At a garage she can earn

= $10 dollars per hour x 5 hours per week

= $10*5 = $50.

At a daycare center she can earn

= $8.50 dollars per hour x 16 hours per week

= $8.50*16 = $136.

If her goal is to maximize the amount of money she can make each week,

she should work 16 hours per week at daycare center to earn $136.00

6 0
3 years ago
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