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valina [46]
3 years ago
13

Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the

following pension-related data were available: Projected Benefit Obligation ($ in millions) Balance, January 1, 2018 $ 460 Service cost 48 Interest cost, discount rate, 5% 23 Gain due to changes in actuarial assumptions in 2018 (14 ) Pension benefits paid (23 ) Balance, December 31, 2018 $ 494
Business
1 answer:
uysha [10]3 years ago
8 0

Answer: The projected benefit obligation is $494 millions

Explanation:

Using the formula

Closing PBO = Opening PBO + S + I -B ± A

Where PBO = Projected Benefit Obiligation, S = service cost, I = interest cost, B = Pension benefit paid, A = Gain due to changes in actuarial assumptions

Interest cost = 5% of 460

= (5÷ 100) = 0.05 × 460

= 23

Closing PBO = 460 + 48 + 23 - 23 - 14

= $494

There is an increase in the Projected benefit obligation to $494 million

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On December 31, 2016, the end of Larry's Used Cars' first year of operations, the accounts receivable was $53,800. The company e
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Answer:

C. $52,100

Explanation:

Account Receivables On December 31, 2016,

= $53,800

Estimate of receivables that will not be collected is an indication of receivables gone bad.

Such receivables are usually written off the books by Crediting account receivables and debiting bad debit expense.

If it is only probable that the receivables may not be collected, the entries would be credit to allowance for bad debt and a debit to bad debt.

In this instance, the debt will not be collected hence

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3 years ago
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Answer and Explanation:

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Answer:

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Explanation:

Please find the complete question in the attachment file.

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A p E x Verified

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