Answer:
A debit to pension expense for $10,000
Explanation:
Journal Entry for pension expenses:
Explanation Debit Credit
Pension Expense $10,000
Cash $10,000
(To record pension expenses)
Pension expenses for the year ended is comprised of the following components of pension cost.
Service Cost 14,000
Interest cost 6,000
Expected return on (10,000)
plan assets _______
Pension expenses <u> $10,000</u>
"Credit" is the one among the following choices given in the question that <span>is an agreement between a consumer and lender to borrow money and pay it back in increments. The correct option among all the options that are given in the question is the first option or option "A". I hope the answer has helped you.</span>
Answer:
Total taxable income = $245,000
Total Tax = $84430
Explanation:
given data
11% of first = $40,000 profits
22% of next = $26,000
39% of next = $29,000
42% of over = $95,000
gross revenues = $380,000
total costs = $120,000
allowable tax deductions = $15,000
to find out
taxable income for the first year and how much should the company expect to pay in taxes
solution
we get here first Total taxable income that is
Total taxable income = Total revenue - (Total cost + Tax deductions ) .......................1
put here value we get
Total taxable income = $380,000 - ($120,000 + $15,000 )
Total taxable income = $380000 - $135000 = $245,000
so total tax will be
Total Tax = [0.11 × 40000 + 0.22 × 26000 + 0.39 × 29000 + 0.42 × (245000 95000) ]
Total Tax = 4400 + 5720 +11310 +63000
Total Tax = $84430
Answer:
The impact on cash flow from operations in the current year based on the changes in operating assets and liabilities is:
a. -200
Explanation:
a) Data and Calculations:
Prior Year Current Year Changes
Accounts receivable 1,725 1,825 $100
Inventories 1,535 1,785 $250
Accounts payable 1,325 1,475 $150
b) Accounts receivable increased by $100, thereby reducing cash inflows. Inventories increased by $250, thereby reducing cash inflows. Accounts payable increased by $150, thereby increasing cash inflows. The net effect or impact is a reduction of $200 in the cash from operations.
