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mario62 [17]
3 years ago
5

Seigel Co. maintains a defined-benefit pension plan for its employees. At each balance sheet date, Seigel should report a pensio

n asset / liability equal to the (CPA Adapted):a.difference between the projected benefit obligation and the accumulated benefit obligationb. projected benefit obligation.
c. funded status relative to the projected benefit obligation.
d.funded status relative to the accumulated benefit obligation.
e accumulated benefit obligation.
Business
2 answers:
Semmy [17]3 years ago
8 0

Answer:

C) funded status relative to the projected benefit obligation.

Explanation:

The reported liability for a pension asset/liability account is the unfunded projected benefit obligation. It is calculated by subtracting the fair value of the plan assets from the projected benefit obligation (PBO).

In this case, the funded status represents the fair value of the plan assets while the PBO represents the total amount of benefits that the pension plan should provide.

A pension liability account is required when the PBO is more than the fair value of the plan assets. If the fair value of the plan assets is higher than PBO, then a pension asset account is required.

chubhunter [2.5K]3 years ago
7 0

Answer:

d.funded status relative to the accumulated benefit obligation.

Explanation:

Employees should be informed funded status relative to the accumulated benefit.

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The fundamental purpose of an organization's mission statement is to:
Maslowich

Answer:

The correct answer is letter "B": define the organization's purpose in society.

Explanation:

A company's mission reflects what is the purpose of the firms in regards to the impact with its surrounding society. It describes what product is going to be offered, what are the association's potential consumers, and in what sector of the society the firm will focus.

6 0
3 years ago
Cassius Corporation has provided the following contribution format income statement. Assume that the following information is wi
Romashka [77]

Answer:

9,400 units

Explanation:

The breakeven point is the number of units that must be sold for the company to make neither a loss nor a profit. A target profit is the net of the sales less the sum of the fixed and variable expenses. The contribution margin  is the difference between the sales and variable cost.

Sales per unit = $210,000/7000 = $30

Variable cost per unit = $136,500/7000 = $19.50

Let the number of units to be sold to achieve the profit target be x

30x - 19.5x - 67200 = 31500

10.5x = 98700

x = 98700/10.5

x = 9,400 units

8 0
3 years ago
A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resu
kherson [118]

Answer:

b.$60,000 outflow.

Explanation:

Cash flows from financing activities

Retiring value of bonds for cash    -$60,000

Cash flow from financing activities -$60,000

Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements

3 0
3 years ago
What Are Some Reasons To Have A Credit Card?
andreev551 [17]

Answer:

1 Boost your credit history and score

2 Internet purchases

3 Emergency money

4 Rewards

5 History of purchases

6 No fear of loss or theft

7 Interest free money

8 Merchant protection

9 Insurance on purchases

10 Convenient when traveling

3 0
2 years ago
On a 3-day fishing trip, 4 adults consumed food costing $60. for the same costs per person per day, what would be the cost of fo
sp2606 [1]

The total cost is $175.

The first thing that you need to do is calculate the per day cost per person.

$60 was spent on a three day trip. $60/2 = $20 per day. There were 4 adults on the trip, so $20/4 = $5. The cost of food is $5 per person per day.

On a trip with 7 adults the formula to solve the total cost is:

7 adults x 5 days x $5/day = $175.

6 0
3 years ago
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