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sdas [7]
3 years ago
8

Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined

-benefit pension plan for the year ended December 31, 2021. 1/1/21 12/31/21 Accumulated benefit obligation 3600000 1660000 Net (gains) and losses $ 6670000 $ 148000 Projected benefit obligation 1450000 6855000 Pension assets (at fair value) 0 4036000 The service cost component of pension expense for 2021 is $523000 and the amortization of prior service cost due to an increase in benefits is $113000. The settlement rate is 11% and the expected rate of return is 7%. What is the amount of pension expense for 2021

Business
1 answer:
Setler79 [48]3 years ago
4 0

Answer:

The pension expense for 2021 = $543,500

Explanation:

Service cost = $523,000

Amortization of prior service cost = $113,000

Settlement rate = 11%

Projected benefit obligation = $1,450,000

Accumulated benefit obligation = $3,600,000

Note: The necessary calculations are in the table attached as a file to this solution.

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What is the importance of linear model communication​
bija089 [108]

Answer:

The linear communication model explains the process of one-way communication, whereby a sender transmits a message and a receiver absorbs it. It's a straightforward communication model that's used across businesses to assist with customer communication-driven activities such as marketing, sales and PR.

Explanation:

4 0
2 years ago
Among the costs Kunee Company incurred during the month of August were the following: $15,000 - coolant used in the headquarters
uranmaximum [27]

Answer: Option (B) is correct.

Explanation:

Given that,

Coolant (used in the office air-conditioning system) cost  = $15,000

Property taxes on factory building = $45,000

Depreciation on trucks = $10,000

Salary paid = $2,000

Period cost = Coolant cost + Depreciation on trucks

                   = $15,000 + $10,000

                   = $25,000

6 0
3 years ago
A corporation borrowed money from a bank to build a building. The long-term note signed by the corporation is secured by a mortg
Sunny_sXe [5.5K]

Answer:

c. The balance of mortgage payable will decrease each period the loan is outstanding.

Explanation:

Since in the question it is mentioned that the coporation has to pay the amount of $80,000 to bank for 10 years in order to reply the loan so according to the given options the option c should be selected as the part of the annual payment would be considered to the loan principal amount this increase for each and every period but at the same time the interest expense amount would be reduced in each and every period at the time when loan become outstanding

4 0
3 years ago
Using the information below calculate the ending total asset of Lisa Inc.  Lisa Inc raises $3,000 of shareholders’ equity.  Li
Julli [10]

Answer:

The ending total asset is $3,800

Explanation:

 Lisa Inc raises $3,000 of shareholders’ equity.  This movement increase the assets,  because the $3,000 increase in the shareholders’ equity will affect the asset

 Lisa Inc purchases a building worth $300 for cash. Won´t modifies the assets ,  decrease cash but increase buildings

 Lisa Inc takes out a loan for $500 and receives cash. Increase assets (cash) , increase Liabilities (Accounts Payable)

 Lisa Inc purchases $300 of inventories, the supplier gives her credit. Increase assets (inventory) , increase Liabilities (Notes Payable)

Asset= $3,000+$500+$300=$3,800

6 0
3 years ago
Peterson Company's petty cash fund was established on January 1 with $500. On January 31, a count of the fund revealed: $105 in
mr_godi [17]

Answer:

(395) NA (395)NA 400 (395)(395) OA

Explanation:

Data provided in the question  

Petty cash fund balance = $500

Remaining cash balance = $105

Vouchers for miscellaneous expenses = $400

Sp by considering the above information, the effect would be and the balance would be  

= Petty cash fund balance - remaining cash balance

= $500 - $105

= $395

So the effect would be recorded as an operating activity for $395 plus it also records the miscellaneous expense for $400 and another financial statement is also affected  

7 0
3 years ago
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