Answer:
The pension expense for the year is $29 million.
Explanation:
The expense is arrived by adding service of cost to interest cost less expected return on plan assets.Thereafter,amortization of prior service cost is deducted as shown below:
Service Cost $30
Interest Cost ($260 million*5%) $13
Expected return on plan assets ($15 actual, $1 Gain)($14
)
Amortization of prior service cost 0
Amortization of net loss (gain) <u> 0
</u>
Pension Expense <u>$29</u>
The roles Colby has in his life can differ depending on him and his wife, but most likely Colby’s income will decrease as well as his career-driven nature, due to the role he must take as a father.
Answer:
Worthy Ships:
Treasury Stock account balance would be $80,000.
Explanation:
Treasury Stock account is a contra account to the Common Stock account. Using the cost method, the account will have a debit entry and balance of $400,000 in 2023. In 2024, with the resale of shares, the account will have a credit entry of $320,000. This would bring the balance to $80,000 at the end of 2024.
Answer:
Food is need but having fast food from expensive restaurants is want.
Car is considered as a luxury its is a want, travelling from bus is a need.
Having small studio apartment to live is need but buying expensive villa is want.
Buying new clothes is need when old clothes are torn.
Shopping from grocery stores is need, shopping from malls is want.
buying branded shoes is want but having normal shoes are need.
Explanation:
These is difference between human needs and wants. A person may want so many luxuries in life but actually he can survive without buying it. Needs are the things without which survival of a person is risk.
Answer:
$128,477
Explanation:
Given that
Payment to finance for purchasing the machine = $30,500
Rate of interest = 6%
Future value of one for five periods at 6% is 1.33823
The future value of an ordinary annuity for five periods at 6% is 5.63709.
The present value of an ordinary annuity for five periods at 6% is 4.21236.
So by considering the above information, the cost of the machine is
= Payment to finance for purchasing the machine × present value of an ordinary annuity for five periods at 6%
= $30,500 × 4.21236
= $128,477
