Answer:
Option D. $10,000 is the correct answer.
Explanation:
Journal Entry for pension expenses:
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 plan assets $10,000
__________
Pension expenses $10,000
Answer:
3.020
Explanation:
Morrit Corporation
interest amount = $1,080,000*.11 = $118,800
Net profit = 3% *$6,000,000= $180,000
Net profit + tax = profit before tax =
180000/.75 = 240000
Profit before tax + Interest = Earning before interest and tax
= $240,000+$118,800 = $358,800
TIE ratio= EBIT/Interest = $358,800/118,800
= 3.020
Therefore the TIE ratio is 3.020
Answer:
b. Liabilities assumed, at book value.
Explanation:
International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) require everything (Assets, Liabilities and Non-controlling interest) to be measured at the fair market value, the amount a third-party would pay on the open market, at the time of acquisition — the date that the acquirer took control of the target company.
Answer:
Net income = $3,560
Explanation:
Romney's Marketing Company
Multi-step income statement
For the Year ended December 31 20YY
Sales revenues 37,250
Less: Cost of goods sold = 0
Gross profit = 37,250
Less: Operating expense:
Wages expense = $19,000
Depreciation expense = $1,750
Utilities expense = $320
Insurance expense = $780
Rent expense = $9,800
Total operating expense = ($31,650)
Add: operating income:
Rent revenue = $560
Total operating income = $6,160
Other operating income
Interest revenue = 160
Net income before taxes = $6,320
Income tax expense = $2,760
Net income = $3,560
Answer:
Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors
