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Advocard [28]
2 years ago
15

Scallion Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Plan asse

ts Balance, January 1 $ 460,000 Balance, January 1 $ 256,000 Service cost 193,000 Actual return 39,000 Interest cost 31,000 Annual contribution 111,000 Benefits paid (83,000 ) Benefits paid (83,000 ) Balance, December 31 $ 601,000 Balance, December 31 $ 323,000 The long-term expected rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year?
Business
2 answers:
Vesnalui [34]2 years ago
7 0

Answer:

The pension expense for the year is 198,400

Explanation:

According to the reports received by the company we have the following relevant data to calculate the pension expense for the year:

Service cost of $ 193,000

Interest cost of $ 31,000

Considering that the long-term expected rate of return on plan assets is 10%, then $ 256,000×10%= 25,600

Pension expense for the year= Service cost of $ 193,000 +Interest cost of $ 31,000-25,600= 198,400.

Colt1911 [192]2 years ago
7 0

Answer:

$198,400

Explanation:

Explanation- Pension expense for the year =Service cost+ Interest cost- Expected return on plan assets

= $193000 + $31000- ($256000 x 10%)

= $224000 - $25600

= $198,400

The pension expense for the year is = $198,400

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Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

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2 years ago
The value proposition for the AARP brand is seen in what kinds of benefits for the members?
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2 years ago
Butler Corporation is considerIng the purchase of new equipment costing $81,000. The projected annual after-tax net income from
Dahasolnce [82]

Answer:

d. $(6,642)

Explanation:

The present value is the sum of after tax cash flows.

Present value can be calculated using a financial calculator

Cash flow in year 0 = $-81,000

Cash flow each year in year 1 to 3 = $27,000 + $2,900 = $29,900

I = 10%

Present value = $(6,642)

To find the PV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

6 0
2 years ago
Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm
UkoKoshka [18]

Answer:

The month of April

Explanation:

Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm prepares monthly financial statements, the law firm should recognize the revenue in April because according to revenue recognition principle, revenue should be recognized in the accounting period in which services are performed, and Susan zupan performed the work in April so therefore the firm should recognize the revenue in April.

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3 years ago
Identify which of the below factors will achieve great results with your client:a. feedbackb. quality work
Sonbull [250]

Answer:

The correct answer is letter "B": quality work.

Explanation:

The quality of a good or service determines if the standard expectation of a product is met according to a consumer. Typically, when the good or service has above-standard quality, consumers are likely to purchase it regularly. The opposite happens with below-standard goods or services: consumers stop buying them.

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