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rewona [7]
3 years ago
8

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in 000s) 2018 2019 Beginning balance

s Beginning balances Projected benefit obligation $ (6,000 ) $ (6,504 ) Plan assets 5,760 6,336 Prior service cost-AOCI 600 552 Net loss-AOCI 720 786 At the end of 2018, Havana contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is Havana's 2018 actual return on plan assets?
Business
1 answer:
Hitman42 [59]3 years ago
5 0

$504000 is the actual return

<u>Explanation:</u>

particulars                           calculation Amount

Service cost                                         700000

Interest cost                     600000 * 8 \%        480000

Less: Expected return 10 \% * 5760000    576000

Prior service cost                                    48000

Net loss                                                     30000

Pension expense                                       682000

Therefore, the pension expense is $682000

<u>The computation is as follows for the calculation of return (in $000’s) </u>

<u>Plan assets </u>

Beginning = $5760

Actual return = ?

Cash contributions = 696

Less: Retireee benefits = (624)

Ending balance = $6336

Thus after solving this, we get the actual return that is equal to = $504,000

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The following selected transactions relate to liabilities of Chicago Glass Corporation for 2016. Chicago's fiscal year ends on D
melisa1 [442]

Answer:

cash   7,600

   nearned revenue   7,600

cash    7,300

   refundable deposist 7,300

cash                           57,100

refundable deposist   7,300

unearned revenue      7,600

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sales tax expense 45,600

     state tax payable    30,400

     local tax payable    15,200

Explanation:

(1) as the services are not yet perform, this is a liability for Chicago Glass Corportation. It assumes to obligation of do this services.

(2)This will be refund once the job are complete and the containers returned in good form

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Chicago deduct rom the invoince the previous payment and the refundable deposits once the transaction is finished.

(4)

760,000 x 4% = 30,400

760,000 x 2% = 15,200

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Emma Jones Company has the following information​ available: Account ​12/31/2019 ​12/31/2018 Accounts Payable ​$76,500 ​$80,000
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Answer:

B. No.

Explanation:

The formula to compute the quick ratio is shown below:

Quick ratio = (Quick assets) ÷ (current liabilities)

where,

For 2018

Quick assets = Accounts​ Receivable, net  + Cash and Cash Equivalents + Short minus Term Investments

= $49,000 + $70,000 + $44,000

= $163,000

And, the current liabilities = Accounts Payable +  Income Taxes Payable

                                           =  ​$80,000 + 5,000

                                           = $85,000

Now put these values to the above formula  

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Quick assets = Accounts​ Receivable, net  + Cash and Cash Equivalents + Short minus Term Investments

= $42,300 + $43,700 + $27,000

= $113,000

And, the current liabilities = Accounts Payable +  Income Taxes Payable

                                           =  ​$76,500 + 2,000

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= 1.43 times

No, as it shows declining from 2018 to 2019

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