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VLD [36.1K]
3 years ago
8

Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year. At the end of th

e year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million. What was the percentage rate of return on plan assets
Business
1 answer:
FromTheMoon [43]3 years ago
4 0

Answer: 4%

Explanation:

From the question, we are informed that Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year and that at the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million.

Based on the above scenario, the percentage rate of return on plan assets goes thus:

Opening balance of plan assets 1200

Add:- Actual return = 48

Add:- contributions = 32

Less :- retiree benefits = -28

Closing balance of plan assets = 1252

It should be noted that the actual return is the balancing figure which is calculated as:

= 1252 + 28 - 1200 - 32

= 48

The percentage rate of return on plan assets will now be:

= 48/1200

=0.04

= 4%

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On January 1, 2015, Brooks Inc. borrows $90,000 from a bank and signs a 5% installment note requiring four annual payments of $2
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Answer:

The journal entry which is to be recorded for the first installment payment on the note is shown below:

Explanation:

The journal entry is as on December 31, 2015

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Working Note:

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= $90,000  × 5%

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Note Payable = Cash - Interest expense

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3 years ago
A job advertisement for a food handler yielded 25 applications. Of those, five were disqualified because they did not have the p
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Answer:

=80%

Explanation:

The yield ratio shows the efficiency of a selected recruiting method. It is expressed as a  percentage of candidates invited for an interview from the recruiting method in review.

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