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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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The data science can alter business resultants with the support of Analytics.

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3 0
2 years ago
Retained earnings $52,000 Accounts Payable $15,000 Supplies 37,000 Common stock 25,000 Equipment 72,000 Note payable (due in 18
Naddika [18.5K]

Answer:

$22,000

Explanation:

Current liabilities are debts that a company must pay within a twelve month period.

This company's current liabilities are:

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Total current liabilities = $15,000 + $7,000 = $22,000

Since the note payable is due in 18 months, it is not considered a current liability.  

8 0
3 years ago
You are considering buying common stock in Grow On, Inc. The firm yesterday paid a dividend of $7.80. You have projected that di
Lina20 [59]

Answer:

The answer is $56.68

Explanation:

Solution

We recall that:

The firm paid a dividend of =$7.80

The projected growth of dividends is at a rate = 9.0%

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Now,

V = ($7.80 * (1.09)/(.24 - 0.9)

= (8.502)/(.24-0.9)

= (8.502) * (-0.66)

= $56.68

Therefore, this would be the most we would pay for the stock. If we paid less than that, our return would be above the 24%.

3 0
3 years ago
Suppose you had invested $1000 in a company's stock, and then you later sold it for $1100. what is the % return on your investme
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5 0
3 years ago
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lozanna [386]

Answer:

D. Natural gas refinery

Explanation:

Processing cost system is when identically units are mass produced. It involves assigning materials, factory labour, overhead cost and so on in an effort to value finished goods inventory. Process cost involves allocation of cost for different set in each process. It helps in determining total cost of producing a unit of commodity. It is best suited for the natural gas refinery because of the various steps involved in the processing and manufacturing of products as cost can be identified and allocated for each steps and also because what is produced are identical units which are mass produced.

3 0
3 years ago
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