I think the best way would be credit
Answer:
c. $45,000 liability
Explanation:
Fair Value of Plan Asset = Return on asset + employer contribution - Benefit paid
= $22,000 + $40,000 - $0
= $62,000
Projected Benefits Obligation = Service cost + interest cost
= $17,000 + $40,000
= $57,000
Pension asset / (liability) = Opening pension asset/ Liability + Plan asset - Projected Benefit Obligation - Amortization
= $2,000 + $62,000 - $57,000 - $52,000
= -$45,000
= $45000 Pension Liability
The required answer is production.
Production:
- Producing something is the act of creating something out of components or raw resources. To put it another way, production employs inputs to produce an output that is fit for consumption—a good or product that has value for a customer or end-user.
- One of the most crucial steps in the manufacturing process, production is fundamental to what it means to be a manufacturer. Without this activity, no finished goods would be produced, leaving no products for buyers to purchase.
- The purpose of production is to provide the economy with commodities and services. Land is the primary factor of production, but term also refers to any other natural resource that is used to create commodities and services. This includes everything that comes from the land, not just the land itself.
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Answer:
Journal Entry
Explanation:
The Journal Entry is shown below:-
Bonds payable Dr, $1,030,000
Loss on retirement of bond Dr, $78,800
($1,091,800 - $1,013,000)
To discount on bond $17,000
To cash $1,091,800
($1,030,000 × 106%)
(Being retirement of the bonds is recorded)