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trasher [3.6K]
4 years ago
11

ABC began a defined benefit pension plan for its employees on Jan 1, 2018. The following data are provided for 2018 as of Dec 31

, 2018: Projected benefit obligation is $634 Accumulated benefit obligation is $418.44 Plan assets at fair value is $821 Pension expense is $192.48 Employer's cash contribution (end of year) is $361 What amount should ABC report as a net pension liability (asset) at Dec 31, 2018. (Enter net pension liability as a positive amount)
Business
1 answer:
SVETLANKA909090 [29]4 years ago
6 0

Answer: $187 ⇒ Amount should ABC report as a net pension liability (asset) at Dec 31, 2018

Explanation:

Given that,

Data for 2018 as of Dec 31, 2018 are as follows:

Projected benefit obligation = $634

Accumulated benefit obligation = $418.44

Plan assets at fair value = $821

Pension expense = $192.48

Employer's cash contribution (end of year) = $361

The amount should company report as a net pension liability at Dec 31, 2018 as follows:

Net Pension Liability =  Projected benefit obligation - Plan assets at fair value

= $634 - $821

= $187 ⇒ Amount should ABC report as a net pension liability (asset) at Dec 31, 2018

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A) ​No, total values and imports and exports should be included in the calculation of the GNP.

Explanation:

The gross national product (GNP) must include the value of all imports and exports including intermediary goods.

Intermediary goods are goods used in the production of final goods, e.g. wood used to build a house. Intermediary goods can sometimes be final goods depending what use will be given to them, e.g. a tire is an intermediary good in the production of a car but it is also a final good when you buy a new tire to replace an old tire.

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4 years ago
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Answer:

A) primary research

Explanation:

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4 years ago
Cullumber purchased a patent from Vania Co. for $1,230,000 on January 1, 2018. The patent is being amortized over its remaining
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Answer: $738,000

Explanation:

The amount they should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 goes thus:

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Then, the carrying value of patent in the beginning of 2020 will be:

= $1,230,000 - $246,000

= $984,000

It should be noted that the remaining life will be:

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2020 Amortization will then be:

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$246000

Accumulated Amortization will be:

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4 years ago
3M Co. reports beginning raw materials inventory of $902 million and ending raw materials inventory of $855 million. 3M purchase
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Answer:

$3693 million

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