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Whitepunk [10]
3 years ago
13

Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea

r, the following information was available with regard to the plan: service cost: $6.2 million, expected return on plan assets: $1.2 million, actual return on plan assets: $1 million, interest cost: $1.4 million, payments to retired employees: $2 million, and amortization of prior service cost (created when the pension plan was amended causing a drop in the projected benefit obligation): $1.1 million. What amount should Harvey Hotels report as pension expense in its income statement for the year?
Business
1 answer:
svp [43]3 years ago
8 0

Answer:

Answer ; Pension Expenses : $7.5million

Explanation:

Calculation of amount that Harvey Hotels report as pension expense in its income statement for the year -

Particulars                                                       Explanation      Amount

Service cost                                            Given in the question     $6.2 million

Add: Interest cost                                    Given in the question     $1.4 million

Less: Expected return on plan assets    Given in the question     $1.2 million

Add: Amortization of prior service cost  Given in the question     $1.1 million

Pension Expense                              ($6.2+$1.4-$1.2+$1.1)million     $7.5 million

Hence, option - (B) is Correct.

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A process with no beginning work in process, completed and transferred out 28,000 units during a period and had 14,000 units in
leonid [27]

Answer:

35,000 equivalent units

Explanation:

The equivalent untis will consider both, the competed units and the portion of work done in the ending Work in Process.

So we will add the complete and transferred with the ending invenory times completion percnet

complete and transferred 28,000

ending work in process 14,000 at 50% = 7,000

28,000 + 7,000 = 35,000

6 0
3 years ago
Hammerpress must decide how to price the standard​ run-rate items it​ sells, such as business​ cards, wedding​ invitations, and
saveliy_v [14]

I think B is correct

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4 years ago
Which questions can help someone who is starting to think about personal vision and goals?
Reil [10]

6/66

born with

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7 0
4 years ago
The Coffee Cup Company had a credit balance of $500 in interest payable at the beginning of the period, and a credit balance of
Klio2033 [76]

Answer:

The adjustment to net income for the period will be reported as:

Debit Interest expense ($600 - $500)                 $100

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<em>(Being interest expense for the period)</em>

Explanation:

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4 0
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Why do employees who participate in planning change efforts tend to have more positive opinions about the change
dusya [7]

Answer:

This question is incomplete, the options are missing. The options are the following:

a) They have the opportunity to reject the proposed change.

b) They will have the opportunity to know more than others about the change.

c) They will be able to convince customers the change was the right thing to do.

d) They will feel a sense of ownership of planned change and are more likely to be on board.  

And the correct answer is the option D: They will feel a sense of ownership of planned change and are more likely to be on board.

Explanation:

To begin with, it will be more acceptable for an employee of a company or a member of a group to agree with a change if that person was involved in the planning of the change. That means that he will feel that he is part of the solution and therefore part of the team because his ideas were listened and maybe he contributed with something. That is why that members who participate in the planning of a change will always be more positive about the final outcome due to the fact that they were there during the process of deciding that outcome and that will make them feel integrity related to the work and to the team as well.

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3 years ago
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