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Tomtit [17]
3 years ago
9

A company's defined benefit pension plan had a PBO of $265,000 on January 1, 2018. During 2018, pension benefits paid were $40,0

00. The discount rate for the plan for this year was 10%. Service cost for 2018 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of the PBO at December 31, 2018, was:
Business
1 answer:
anastassius [24]3 years ago
4 0

Answer:

$331,500

Explanation:

The computation of the ending balance of the pension benefit obligation is shown below:

= Opening balance of PBO + service cost + interest cost - pension benefits

= $265,000 + $80,000 + $26,500 - $40,000

= $331,500

The computation of the interest cost is shown below:

= Opening balance of PBO × discount rate

= $265,000 × 10%

= $26,500

The increased value of the plan assets would be ignored.

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marshall27 [118]

Answer:

C.

Explanation:

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3 years ago
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katrin2010 [14]

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8 0
3 years ago
Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $30,5
DIA [1.3K]

Answer:

$38,500

Explanation:

Sheridan's ending cash balance can be calculated as;

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= $5,500 + $30,500 + $13,500 - $11,000

= $38,500

Therefore, the ending cash balance is $38,500

6 0
2 years ago
Assume that the bank says Frank can have the money and would like to work with him on the type of debt that he will be incurring
IceJOKER [234]

Answer:

It is better for Frank, to go for a line of credit

Explanation:

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7 0
3 years ago
Vaughn Manufacturing has two divisions; Sporting Goods and Sports Gear. The sales mix is 75% for Sporting Goods and 25% for Spor
Cerrena [4.2K]

Answer:

The correct answer is 35%.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the Weighted average contribution margin ratio by using following formula:

weighted-average contribution margin ratio =  (Contribution margin ratio × Sales of sporting goods) + (Contribution margin ratio × Sales of sporting gears)

= ( 30 × 75% ) + ( 50 × 25%)

= 22.5% + 12.5%

= 35%

3 0
3 years ago
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