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umka21 [38]
3 years ago
9

Payne, Inc., a nonpublicly traded company, implemented a defined benefit pension plan for its employees on January 2, year 2. Th

e following data are provided for year 2, as of December 31, year 2:
Fair value of plan assets: $78,000
Projected benefit obligation: $103,000
Net periodic pension cost: $90,000
Employer's contribution: $70,000

What amount should Payne record as pension liability at December 31, year 2?

a. $0
b. $25,000
c. $20,000
d. $45,000
Business
1 answer:
Dovator [93]3 years ago
7 0

Answer:

b. $25,000

Explanation:

For computing the pension liability amount, we need to do apply the formula which is shown below:

= Projected benefit obligation - Fair value of plan assets

= $103,000 - $78,000

= $25,000

The net periodic pension cost and the employer's contribution is not relevant. So, these items are ignored and hence not included in the computation part.

The excess amount is shown as a pension liability.

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For a normal good, if the price of a substitute good decreases then:
geniusboy [140]

Answer:

(B) the demand curve shifts leftward while the supply curve stays the same.

Explanation:

"Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. "

Reference: Khan Academy. “Price of Related Products and Demand.” Khan Academy, Khan Academy, 2019

8 0
3 years ago
A difference between explicit and implicit costs is that a) explicit costs must be greater than implicit costs. b) explicit cost
Andrej [43]

Answer:

Implicit costs do not require a direct monetary outlay by the firm, whereas explicit costs do.

Explanation:

Rent, salary, and other operating expenses are considered explicit costs. They are all recorded within a firm's financial statements, meaning they are present and clearly shown or reported as a separate cost. The main difference between the two types of costs is that implicit costs are opportunity costs, meaning that it is present but it is not initially shown or reported as a separate cost, while explicit costs are expenses paid with a company's own tangible assets. In other words, explicit costs are always shown, implicit costs are not, at least initially, exactly like the meaning words suggest.

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3 years ago
In this video case, a manager is having an early morning meeting with his employees. This manager would have ________ by the aut
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a secured party who has control will prevail over a secured party who has only filed for these types of collateral:
marshall27 [118]

Deposit accounts, Investment Property, and Letter-of-credit Rights. Thus option (A) is correct

<h3>What is the investment?</h3>

Investment is the ceremonial of money to purchase an asset to attain an increase in value over a time period of time. Investment requires a sacrifice of some present quality, such as time, medium of exchange, or effort. In finance, the purpose of investing is to generate a return from the invested asset.

Whether or not there is a current obligation to be secured, a person who has the benefit of the security interest generated by or provided for under a security arrangement is known as a secured party under UCC law. when the secured party is in possession, a duty of care.] A secured party must take reasonable care to keep the collateral it has in its possession safe unless subsection (d) provides otherwise.

Therefore, Thus option(A) is correct

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Explanation:

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2 years ago
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