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geniusboy [140]
3 years ago
7

The following information relates to the pension plan for the employees of Turner Co.: 1/1/20 12/31/20 12/31/21 Projected benefi

t obligation 9,765,000 10,458,000 14,007,000 Fair value of plan assets 8,925,000 10,920,000 12,054,000 AOCI – net (gain) or loss -0- (1,512,000) (1,680,000) Settlement rate (for year) 11% 11% Expected rate of return (for year) 8% 7% Turner estimates that the average remaining service life is 16 years. Turner's contribution was $1,323,000 in 2021 and benefits paid to retired employees was $987,000. The amount of AOCI (net gain) amortized in 2021 is
Business
1 answer:
Reptile [31]3 years ago
5 0

Answer:

The amount of AOCI (net gain) amortized in 2021 is $26,250

Explanation:

In order to calculate the calculate the amount of AOCI (net gain) amortized in 2021 we would have to use the following formula:

amount of AOCI (net gain) amortized in 2021=(AOCI net gain 12/31/20-Corridor amount for 2021)/Average remaining service life

AOCI net gain 12/31/20=$1,512,000  

Corridor amount for 2021=$1,092,000=10,920,000*10%

Average remaining service life=16  

Therefore, AOCI (net gain) amortized in 2021=($1,512,000-$1,092,000)/16

AOCI (net gain) amortized in 2021=$26,250

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If a check correctly written and paid by the bank for $936 is incorrectly recorded in the company's books for $963, how should t
motikmotik

Answer:

The difference of $27 will be added in the bank reconciliation statement.

Explanation:

With regards to the above information,

Since bank paid $936 but was recorded as $963 in the company's books.

The difference would therefore be ;

= $963 - $936

= $27.

This means that in the company's books, the balance is shown less than the actual balance by $27

Therefore, $27 will be added to the balance in the bank with regards to the books while preparing the bank reconciliation statement.

Hence, $27 which is $963 - $936 will be added in the bank reconciliation statement.

6 0
4 years ago
Polar Containers makes​ high-end coolers for camping. The total task time needed to make a cooler is 310 ​seconds, with the long
Degger [83]

Answer:

TAKT time: 840 seconds

maximum output:  315 coolers.

Explanation:

The takt time refers to matching the production pace with the demand

\frac{availalbe-working-time}{customer \: or \: firm \: demand}

To produce 30 coolers per 7-hours day we need an outpot of:

7 hours x 60 minutes x 60 seconds = 25,200

output of 30 coolers

takt: 25,200 / 30 = 840 seconds

producing a cooler every 840 seconds is the takt time.

Maximum output:

If the company does several cooler in parallel it will have a bottle neck in the longest individual task so, this time determinates the maximum output.

25,200 second of working time available

80 second longest task to complete a cooler:

25,200 / 80 = 315 coolers.

7 0
3 years ago
A frozen food manufacturer can produce either pizzas or pepperoni rolls. As a result of a decrease in the price of pepperoni rol
xxMikexx [17]

Answer:

An increase in the quantity supplied of pepperoni rolls and decrease in supply of pizza

7 0
4 years ago
Some ratios use information only from the balance sheet for calculation purpose, while some ratios use information from the inco
ELEN [110]

Answer:

Check the explanation

Explanation:

1) Current Ratio = Balance sheet

current ratio uses current assets and current liabilities of the balance sheet to calculate the ratio.

2) Quick Ratio = Balance sheet

Quick Ratio uses Quick assets and current liabilities of Balance sheet

3) Total Assets Turn Over Ratio = Income statement and Balance sheet

Total assets turn over ratio uses Net sales of Income statement and Avg Assets of Balance sheet to calculate the ratio

4) Debt Equity Ratio = Balance sheet

Debt Equity Ratio uses Debt and Equity of Balance sheet to calculate the Ratio

5) Return on Equity = Income statement and Balance sheet

Return on Equity uses Information of Net Income from Income statement and Shareholders Equity from Balance sheet to calculate the ratio.

6 0
3 years ago
Bentley Corporation received cash from issuing 12 comma 000 shares of common stock at par on January​ 1, 2018. The stock has a p
Leokris [45]

Answer:

Option B is correct for entry but value is wrong value should be $120

Explanation:

The options provided are not correct, where shares are issued at par value no additional capital is credited.

As the number of shares = 12,000

Par value per share = $0.01

Total par value = $0.01 \times 12,000 = $120

Therefore, issue of shares entry will be

Cash A/c Dr.                 $120

        To Common Stock             $120

Thus no option is correct, as for the entry option B is correct but the values are wrong.

8 0
3 years ago
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