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exis [7]
2 years ago
13

Pension data for Coda Corporation included the following for the current calendar year: Service cost $ 112,000 PBO, January 1 81

0,000 Plan assets, January 1 860,000 Amortization of prior service cost 6,600 Amortization of net loss 2,600 Discount rate, 8% Expected return on plan assets, 10% Actual return on plan assets, 12% Required: Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
spayn [35]2 years ago
4 0

Answer:

Pension expense   $100,000

Explanation:

The computation of the pension expense for the year is shown below:

Service cost   $112,000

Interest cost $64,800 ($810,000 × 8%)  

Amortization of prior service cost $6,600

Amortization of net loss $2,600

Less: Expected return on plan assets -$86,000  ($860,000 × 10%)

Pension expense   $100,000

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Why do markets exist?
FinnZ [79.3K]

Answer:

The correct answer is *to provide a place for people to trade goods and services

Explanation:

trading can be simply described as the act of exchanging values between parties.

a market is a place where the sellers and buyers meet and trade, in which the buyers buy what they need and want from the sellers at a price both of them can agree upon.

8 0
3 years ago
2700 thousand bonds with a face value of $1000 each, are sold at 106. The entry to record the issuance is
IceJOKER [234]

Date, bonds sold at a premium

Dr Cash $28620000000

   Cr Bonds payable $2,700,000,000

   Cr Premium on bonds payable $1,62,000,000

Explanation:

The total face value of the bonds is $1,000 x 2700,000 bonds = $2,700,000,000

since the bonds were sold at 106, their price was =

$2,700,000,000 x 106% = $28620000000

the difference between the face value and the actual market price = $2,862,000,000 - $2,700,000,000 = $1,62,000,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

<h3>What is the difference between market value and face value?</h3>
  • The market value is the actual price at which the security trades on the open market, as well as the price that fluctuates when the yield reacts to changes in interest rates.
  • The face value is determined by the issuing company. It may be the value at which the firm redeems the shares at some point in the future, but there is no guarantee.

Learn more about date and the interest expense:

brainly.com/question/20038664

#SPJ4

7 0
2 years ago
Which do you prefer of the options below? Is there an interest rate at which you switch your preference? If so, what is the rate
elena-s [515]

Answer:

As the first payment occurs on option 7 n interest rate higher enough can make the 50 dollars received first make the difference.

The switch produced at a rate of :

300%

Interest rate below this mark favor option 6

while higher than this favor option 7

Explanation:

Option 6

perpetuity of 100 discounted 1.5 year

\frac{100}{r} (1+r)^{-1.5}

perpetuity of 50 every 3 years discounted 3 years

as the payment are every three years we calcualte an equivalent rate:

(1+r)^{3} -1 =r_e

\frac{50}{(1+r)^{3} -1} (1+r)^{-1.5}

Option 7

perpetuity of 50 discounted 1 year

\frac{50}{r} (1+r)^{-1}

perpetuity of 100 every 2 years discounted 2.5 years

equivalent biannual rate

(1+r)^{2} -1 =r_e

\frac{100}{(1+r)^{2} -1} (1+r)^{-2.5}

having the formulas

we can do it on excel solver to look at which rate the switch produces

5 0
3 years ago
The ACT is a standardized test administered to high school students and used to determine college admissions. The test is offere
algol [13]

Answer:

B)

Explanation:

Makes the most sense considering the scenario.

7 0
2 years ago
On January​ 1, 2018​, White Corporation signed a $ 120,000​, four​-year, 2​% note. The loan required White to make payments annu
VladimirAG [237]

Answer:

Dr cash                 $120,000

Cr Notes payable                         $120,000

Dr interest expense    $2,400

Dr notes payable       $30,000

Cr cash                                             $32,400

Explanation:

The issuance of the notes payable of $120,000 means that White Corporation's cash inflow has increased by $120,000 while its corresponding loan obligation has also gone up by the same amount.

On 31 December 2018,White Corporation would need to repay $30,000 principal plus interest of $2,400 ($120,000*2%).The interest payment is debited to interest expense while $30,000 repayment is debited to notes payable and cash is credited with the total of $32,400

3 0
3 years ago
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