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coldgirl [10]
3 years ago
12

Lerchman Corp sponsors a defined-benefit pension plan for its employees. The company's actuary has provided the following inform

ation for the year ended December 31, 2022:
Projected benefit obligation $730,000
Fair value of plan assets 860,000
Service cost 240,000
Interest on projected benefit obligation 24,000
Amortization of prior service cost 60,000
Expected and actual return on plan assets 82,500

The plan paid benefits of $150,000. The market-related asset value equals the fair value of plan assets. No contributions have been made for 2022 pension cost. In its December 31, 2022 balance sheet, Lerchman should report a pension asset / liability of

a. Pension liability of $730,000
b. Pension liability of $545,000
c. Pension asset of $130,000
d. Pension asset of $860,000
Business
1 answer:
alexandr1967 [171]3 years ago
4 0

Answer:

c. Pension asset of $130,000

Explanation:

Calculation for what Lerchman should report as pension asset / liability in its December 31, 2022 balance sheet

Using this formula

Balance sheet Pension Asset = Fair value of plan assets 12/31/22- Projected benefit obligation 12/31/22

Let plug in the formula

Balance sheet Pension Asset= $860,000 - $730,000

Balance sheet Pension Asset = $130,000

Therefore In its December 31, 2022 balance sheet, Lerchman should report a pension asset of $130,000

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Answer:

Relative Frequency = Observed value for each cell / Total frequency * 100

Cause                       Relative Frequency

Pilot Error                           619

Other human error             85

Weather                              574

Mechanical problems        566

Sabotage                            524

Total                                   2368

The total frequency is 2368

The calculation of the relative frequency distribution is

Cause                          Relative Frequency           Result

Pilot Error                         619/2368 * 100              26.14%

Other human error           85/2368 * 100               3.59%

Weather                            574/2368 * 100             24.24%

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Sabotage                          524/2368 * 100             <u>22.13%</u>

Total                                                                          100%

Conclusion: The most serious threat to aviation safety is the Pilot error as it has the highest frequency. Pilot need to be more equipped with understanding and knowledge of how to deal with unexpected event i.e. turbulence, engine failure among others..

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For 2019, Skresso Co. reported $1.82 of earnings per share of common stock. During 2020, the firm had a 4% common stock dividend
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Answer:

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So, the 2019 earnings per share to be reported in the annual report for 2020 are $1.75.

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Answer:

Explanation:

The money spent on domestically produced final goods and services: is equal to GDP.

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Answer:

He would receive $15 under incentive plan.

Explanation:

The given values are:

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i.e.,

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So,

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On putting the estimated values, we get

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The available time will be:

= (8 \ hours\times 60 \ min/hr\times 60 \ sec/min)

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The Standard production per day will be:

= \frac{Available \ time}{Standard \ time}

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