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
JulsSmile [24]
3 years ago
6

Selected accounts with a credit amount omitted are as follows:

Business
1 answer:
goblinko [34]3 years ago
6 0
Where is the rest of the question


You might be interested in
At January 1, 2020, Windsor Company had plan assets of $303,000 and a projected benefit obligation of the same amount. During 20
Arte-miy333 [17]

Answer:

The answer is well illustrated as below

Explanation:

Remember: Five factors affects the Pension Liability and Plan assets.

1 & 2. Expenses which includes service cost and interest cost

The increase in expense always increases the pension liability so the entry would be:

Dr Service cost  $27,100

Dr Interest Cost $30,300 ...... $303,000 Opening Pension Liability * 10%

Cr Pension Liability        $57,400

3. Actual return increases the Plan Asset

The Actual return on investment received would increase the Assets worth, which means the journal entry must be passed which would increase the Investment Value (Plan Asset). So the entry would be:

Dr Plan Asset $25,700

Cr Actual return $25,700

4. Contributions made increases the Plan Asset because it is an increase in the investment.

So the journal entry would be:

Dr Plan Asset $20,000

Cr Cash Asset        $20,000

5. The benefits paid to employees are decrease in both pension asset and the pension liability. (We had actually borrowed money from the employees and had invested that money so paying off the benefits actually decreases the pension liability and assets).

So the double entry would be:

Dr Pension Liability $17,700

Cr            Pension Assets $17,700

Kindly input the above values in the following worksheet:

4 0
3 years ago
Jonah and Cathy were sure that they had correctly answered most of their exam questions. However, they each scored less than 60
Genrish500 [490]

Explanation:nevermind

6 0
3 years ago
What are the board directors in charge of
Mama L [17]

Answer:

The board of directors is elected to represent shareholders' interests

Explanation:

Every public company must have a board of directors composed of members from both inside and outside the company. The board makes decisions concerning the hiring and firing of personnel, dividend policies and payouts, and executive compensation. hope this helps you :)

7 0
3 years ago
Thomas was thinking about the car he wants to buy in a few years. He does not know what he should do now so that he
Kipish [7]
I believe that the answer is D. That he should become knowledgeable about smart ways to save and about car loans
7 0
2 years ago
Government regulations that prevent two firms from merging to become a monopoly address which type of market failure?
Kitty [74]
Market power because it is the ability of a firm to set on price of goods ( when both firms merges to have power over market
4 0
2 years ago
Other questions:
  • One of the four seasons hotel's customer-defined standards is "staff will speak to guests in an attentive, natural, and courteou
    5·1 answer
  • Which type of cover letter would the above excerpt come from? a. Prospecting cover letter b. Networking cover letter c. Applicat
    11·1 answer
  • which term describes an insured, a partner or an employee with custody of insured property outside the insured premises?
    10·2 answers
  • Jessie is watching television and sees an advertisement for a computer. The ad provided detailed information about the computer
    10·1 answer
  • What’d does market value of a good or service mean?
    9·1 answer
  • Both Nadia and Samantha are applying to insure their car against theft. Nadia lives in a secure neighborhood, where the probabil
    10·1 answer
  • Suppose that everyone who has looked for a job for more than six months gave up in despair and stopped looking. What would happe
    14·1 answer
  • The following company information is available. The direct materials quantity variance is:
    5·1 answer
  • (01.02 mc) which of these actions was an economic cause of increased tensions between the north and south?
    11·1 answer
  • many say that companies have a right to drug-test their employees because drug use impairs an employee's performance. how do des
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!