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:
$56,600.00
Explanation:
The amount the company spent on purchase of additional equipment during year 1 can be ascertained using the formula below:
amount spent on additional equipment=ending balance of equipment-(beginning balance-cost of equipment sold)
ending balance of equipment is $304,700
beginning balance is $341,200
cost of equipment sold is $93,100
amount on additional equipment=$304,700-($341,200-$93,100)=$56,600.00
Answer:
Country
- c. B had the higher level of real GDP and Country A had the higher level of real GDP per person
Explanation:
Country A's population 2,000, worked 1,300 with 8 hours a day with a productivity of 5 = 52,000 units of something produced. GDP per capita = 52,000 / 2,000 = <u>26 per capita</u>
Country B's population 2,500, worked 1,700 with 8 hours a day with a productivity of 4 = <u>54,400 units</u> of something produced. GDP per capita = 54,400 / 2,500 = 21.76 per capita
Based on the present value of the annual cash flows and the investment cost, the present value index is 1.39
<h3>How is the present value index calculated?</h3>
To find the present value index, use the formula:
= Present value of cash flow/Investment cost
The present value of cash flow is:
= Annual cash flows x Present value interest factor of annuity, 9%, 4 years
= 2,480 x 3.239719877
= $8,034.51
The present value index is:
= 8,034.51 / 5,800
= 1.39
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Answer:
$299,280
Explanation:
If the Tolstoys purchased the house they would pay on average $120 per sq ft x 2,900 sq ft = $348,000
If Mr. installs the plumbing and Mrs. Tolstoy decorates the house, they can save 10% (plumbing and installing plumbing fixtures) and 4% (interior decorating) = 14% of the cost
So the Tolstoys can save = $348,000 x 14% = $48,720
the cost of the house = $348,000 - $48,720 = $299,280
