The answer is yes.
Its possible for a firm to become too big to be competitive and earn profit. They can be so large and successful that they no longer compete with small businesses anymore and might inhibit the ability to continue earn their profit.
Brown’s Year 2 net pension plan cost is- $239,000
Pension Cost = Service Cost + Interest Cost + Prior Service Cost + Prior Loss - Actual Return
= $105,000 + $190,000 + $122,000 + $37,000 - $215,000
= $239,000.
A retirement plan is an employee benefit plan established or maintained by an employer and/or an employee organization.
A pension plan is a type of retirement plan that provides monthly income after retirement. Employers are obliged to contribute to the pool of funds invested for the benefit of their employees. As an employee, you can also pay part of your wages to the plan. Not all companies offer these plans.
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Answer:
<u>debit interest expense and credit cash</u>
Explanation:
Remember journal entries records all the various transactions of a company (including bond issuer) in the form of either debit or credit transactions.
The issuance of the bond on the journal entry would be to debit interest expense and credit cash because the issuer of the bond receives cash ( a face value of $750,000) from investors and thus would <em>record a liability</em> for the bonds issued.
Answer:
Please see the solution below:
Explanation:
CASH FLOWS FROM OPERATING ACTIVITIES $
Net Income 308,000
<em>Adjustments to reconcile net income to </em>
<em>net cash provided by operating activities: </em>
Depreciation on Fixed Assets 19,000
Amortization of bond premium 3,800
<em>(Increase) Decrease in Current Assets:</em>
Inventory (2,400)
Accounts Receivables (1,480)
<em>Increase (Decrease) in Current Liabilities:</em>
Interest Payable (1,680)
Accounts Payable 7,800
NET CASH PROVIDED BY OPERATING ACTIVITIES 333,040
