1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
REY [17]
3 years ago
10

The following is the only information pertaining to Kane Co.âs defined benefit pension plan:Pension asset, January 1, Year 1 $ 2

,000Service cost 19,000Interest cost 38,000Actual and expected return on plan assets 22,000Amortization of prior service cost arising in a prior period 52,000Employer contributions 40,000In its December 31, Year 1, balance sheet, what amount should Kane report as the unfunded or overfunded projected benefit obligation (PBO)?(A) $ 7,000 overfunded.(B) $15,000 underfunded.(C) $45,000 underfunded.(D) $52,000 underfunded.
Business
1 answer:
Mnenie [13.5K]3 years ago
6 0

Answer:

option (a) is correct answer '$ 7,000 overfunded'

Explanation:

Data:

Pension asset, January 1, Year 1 = $ 2,000

Service cost = $ 19,000

Interest cost = $ 38,000

Actual and expected return on plan assets = $ 22,000

Amortization of prior service cost arising in a prior period = $ 52,000

Employer contributions = $ 40,000

Total expenses = Service cost + Interest cost = $ 19,000 + $ 38,000  

= $ 57000

Now,

projected benefit obligation (PBO) = (Pension asset + Actual and expected return ) - Total expenses

or

projected benefit obligation (PBO)

= $ 2,000 + $ 22,000 + $ 40,000 - $ 57000

or

overfunded projected benefit obligation (PBO) = $ 7,000

hence,

option (a) is correct answer '$ 7,000 overfunded'

You might be interested in
Marketing ________ sports involves the strategic marketing efforts of companies in which they partner with a sports entity for s
melamori03 [73]

'Marketing through sports involves the strategic marketing efforts of companies in which they partner with a sports entity for some commercial benefit.

Marketing strategy is the process that enables a company to focus its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.

Marketing activities are the resources companies spend to promote their products and services. Through marketing activities, businesses can generate demand and interest in their products and increase awareness among potential customers.

marketing strategy helps you discover areas that will be impacted by business growth, thereby helping you create organizational plans that address customer needs. It helps organizations appropriately price their goods and services based on information gathered through market research.

Learn more about Marketing strategy brainly.com/question/25640993

#SPJ4

6 0
2 years ago
In 2017, Orear Manufacturing signed a contract with a supplier to purchase raw materials in 2018 for $700,000. Before the Decemb
MArishka [77]

Answer:

d) as a current liability

Explanation:

Current Liabilities are those liabilities which are payable within one years time e.g trade payable, tax payable etc.

The credit against the purchase of inventory is classified as the trade payable and it is paid in a short time, so it will be reported on the balance sheet in current liability section.

5 0
3 years ago
When building a team, which profession is most similar to that of the team leader
Shkiper50 [21]
D is the correct answer
3 0
2 years ago
Read 2 more answers
Brokers differ from insurance agents in that ____
leva [86]

Answer: Option A          

Explanation: A broker refers to a person or a firm who charges fees from the investors for executing their purchase and sale transactions. The broker sometimes also charge their customers for their consultancy services.

Whereas insurance agents refers to the person who sell the insurance policies to the general public and in return gets commission from the insurance company on the premiums paid by the insured.

Hence from the above we can conclude that the correct option is A.

8 0
3 years ago
What is the definition of abuse
shusha [124]

Answer:

The improper usage or treatment of a thing, often to unfairly or improperly gain benefit. Abuse can come in many forms, such as physical or verbal maltreatment, injury, assault, violation, unjust practices, crimes, or other types of aggression.

Explanation:

8 0
3 years ago
Other questions:
  • A manufacturer of lawn care equipment has introduced a new product. The anticipated demand is normally distributed with a mean o
    6·1 answer
  • What is plasticity? How does it apply to development?
    15·1 answer
  • Writing ads and setting prices are examples of which of the following?
    5·1 answer
  • Define agency costs, and describe agency costs of financial distress and agency benefits of leverage
    5·1 answer
  • A u.s. manufacturer that exports goods made at its u.s. plants for shipment to foreign markets:
    6·1 answer
  • Outdoor fitness posted $1.2 million in sales on account in December. Which division of the accounting department is responsible
    6·2 answers
  • Based on this model, households earn income when firms __________ purchase goods and services ___________in markets for factors
    8·1 answer
  • how would you describe in three sentences the posible product or service you will propose for need in your community.​
    7·1 answer
  • Marigold Company sells one product. Presented below is information for January for Marigold Company.
    11·1 answer
  • I am 15 I’m I able to work at a haunted house or something like that?
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!