Answer:
Dr Service cost 245,000
Cr Interest 166,400
Cr Cash 411,400
Dr Plan assets - pension 411,400
Cr Service cost 245,000
Cr Interest 166,400
Explanation:
Preparation of the journal entries to record annual pension expense for the enterprise fund of Amherst City
Since we are Assuming that the plan investments was $184,300 while the service cost component is the sum of $245,000, and interest on the pension liability is the sum of $166,400 for the year this means the Journal entries to record annual pension expense for the enterprise fund of Amherst City will be:
Dr Service cost 245,000
Cr Interest 166,400
Cr Cash 411,400
(245,000+166,400)
Dr Plan assets - pension 411,400
(245,000+166,400)
Cr Service cost 245,000
Cr Interest 166,400
Answer:
Option (d) 7 times
Explanation:
Data provided in the question:
Net income = $250,000
Dividends paid to common stockholders = $50,000
Common stock outstanding = 50,000
Selling price of the common stocks = $35
Now,
The price-earnings ratio is calculated as:
⇒ ( Stock price ) ÷ ( Earnings per share )
also,
Earnings per share = ( Net income ) ÷ ( common stock outstanding )
= $250,000 ÷ 50,000
= $5
or
Price-earnings ratio = $35 ÷ $5
or
Price-earnings ratio = 7 times
Option (d) 7 times
Answer:
"An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, CPA, and attorney."
Explanation:
An entrepreneurial team usually consists of 2 or more people with a great interest in the success and future of a company. The work of this team is interdependent as they pursue common goals for success for the venture. They are usually interested in the financial and other areas of a company and include the entrepreneur, the CPA, attorney, and the organization's banker.
