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netineya [11]
3 years ago
11

At January 1, 2020, Windsor Company had plan assets of $303,000 and a projected benefit obligation of the same amount. During 20

20, service cost was $27,100, the settlement rate was 10%, actual and expected return on plan assets were $25,700, contributions were $20,000, and benefits paid were $17,700. Prepare a pension worksheet for Windsor Company for 2020.

Business
1 answer:
Arte-miy333 [17]3 years ago
4 0

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:

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Answer: Delegating

Explanation:

Delegation is a concept of a managerial leadership  which involves the transfer and directing of specific and explicit  duties or activities on what needs to be accomplished and how it should be carried out  usually by  an experienced manager to his or her subordinates especially for the outcome of work which he or she is accountable for.

Here, Ellen is always scheduling, directing and gives explicit standard of performance shows she is high on Delegating duties.

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Ted's company has recently reorganized. He has been reassigned into a new role for which he feels unprepared, and he is not sure
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Answer:

These are the options for the question:

  • Peer pressure
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And this is the correct answer:

  • Fear of failure

Explanation:

Ted is afraid of failing at his new role, he is suffering from fear of failure. This is because Ted was accustomed to completing a set of tasks specific to his previous position in the company.

Now that the company has reorganized, he has been given a new position, and new tasks to complete, and he does not feel at ease at first, likely because he lacks first-hand experience with some of the tasks.

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3 years ago
Suppose you own 5% of Coastal Corporation's 400,000 outstanding common shares. The stock was trading for $135 per share before C
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Answer:

number of share 30,000 share

price per share = $90

Explanation:

given data:

investor's share = 5%

outstanding share =400,000

stock split = 3/2

number of share after spliting = investor share* outstanding share* stock split

                                                  = 5%*400,000*(3/2)

                                                   = 30,000 share

per share price can be determined by using following relation:

price\  per\  share =\frac{ outstanding\  share*\  trading\ price * investor's\  share}{ number\  of \ share\  after \ splittg}

                             = \frac{40000 *135*0.05}{30000}

                               = $90

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Answer:

Seasonal Unemployment

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Susie is going through an unwanted unemployment that is caused by the economic changes. This kind of unemployment is called seasonal unemployment. It is caused by the changes that are occurring in the economy due to which certain skills or tasks are being replaced or not required anymore.

Susie is going to change her economic surrounding to fit in better now with the kind of skill set she plans on developing.

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Answer:

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Explanation:

Diminishing marginal product explains why, as a firm's output increases, The production function gets flatter, while the total-cost curve gets steeper.

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