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Dmitry_Shevchenko [17]
3 years ago
10

Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg

inning PBO, $78,000; service cost, $17,000; interest cost, $6,400; benefits paid for the year, $8,500; ending PBO, $92,900; and the expected return on plan assets, $11,000. There were no other pension-related costs. The journal entry to record the annual pension costs will include a debit to pension expense for:
Business
1 answer:
nordsb [41]3 years ago
8 0

Answer:

The correct answer is $12,400.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the pension expense by using following formula:

Pension expense =  Interest cost + Service cost - Expected return on plan assets.

Where, Interest cost = $6,400

service cost = $17,000

Expected return on plan assets = $11,000

So, by putting the value, we get

Pension expense = $6,400 + $17,000 - $11,000 = $12,400

Hence, Journal entry for the following are as follows:

Pension Expense A/c Dr.   $12,400

To Cash                                      $12,400

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Answer:

= 8.89%

Explanation:

T<em>h rate of return on a preferred stock is the dividend divided by the price of the stock multiplied by 100</em>

<em>Return = Dividend/price × 100</em>

Quarterly dividend = $1

<em>Annual dividend </em>

= 1 × 4 ( Note there are four quarters in year)

= $4

<em>Annual rate of  return</em>

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3 years ago
A video game system is on sale for 25% off its original price. If the original price is $200, how much money will be saved?​
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Answer:

$50

Explanation:

25% = 1/4

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3 years ago
A few years ago, Toyota found that consumers wanted cars to last longer and be more environmentally friendly. GM, however, enjoy
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Answer:

General Motors had more of a Production Orientation

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7 0
2 years ago
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transa
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Answer:

Kindly see attached organized table for clarity.

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b  Adjusting entry for use of supplies            -                     -$31

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d Received cash from customer on acct   $865                  -

e  Purchased equipment for cash             -$2,528                -

f   Depreciation of building to be recorded     -                  -$610

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20
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