Answer:
C. A return of $70000
Explanation:
Given that
Beginning plan asset = 325000
End plan asset = 375000
Contributions = 130000
Total avalable assets initially = beginning plan asset + contributions
= 325000 + 130000
= 455,000.
Distributions of pension resulted in less 150000
Thus,
Balance = 455000 - 150000
= 305000.
But recall that the ending balance was
375000
Thus,
The difference between 375000 and 305000 = $70000, represents the return on plan assets.
Hence return on plan assets
= $70,000
NOTE that, the loss of $55,000 from sale of specific investments is included in the net gain of $70,000
Answer:
Match the invoice with the PO.
Record the transaction in the system.
Post the transaction to a ledger
Generate unadjusted Trial balance
Prepare adjusted Trial Balance.
Issue Financial statements
Closing entries
Post closing Trial balance.
Explanation:
The accounting procedure is followed to record any transaction of the business. The transaction are recorded in the system and then these transactions are posted into ledger which forms the trial balance and then financial statements are prepared.
True......................................
Answer:
$50,000
Explanation:
The computation of the cost of going the college is shown below:
= College tuition fees per year + boarding fees per year + books and materials charges per year + earnings while working
= $20,000 + $10,000 + $2,000 + $18,000
= $50,000
For computing the cost of going to the college we simply added the total cost that is mentioned in the question so that the accurate amount could come
Answer:
The Just-in-time( JIT) inventory management
Explanation:
The Just-in-time( JIT) inventory management approach seeks to increase efficiency in the stock management process. JIT achieves efficiency by reducing the cost of holding stocks and eliminating wastage associated with keeping a high volume of inventory. Under JIT, materials are ordered when they are required for production. The business does hold stocks or will have minimal quantities in the stores.
George can adopt the just-in-time system in his place of work. His cost of holding stock will reduce as materials will be purchased to meet the current production requirements. Market demand determine production. It means there will be no storage of a high volume of finished goods, which ties up a lot of capital.