All categories

3 years ago

On January 1, 2014, Harrington Company has the following defined benefit pension plan balances.

Business

1 answer:

Brilliant_brown [7]3 years ago

6 0

Answer and Explanation:

a. The pension worksheet for the pension plan for the year 2014 and 2015 is presented on the excel spreadsheet

b. According to the scenario, The journal entry is

Journal Entry:-

Pension expenses A/c Dr. $450,640

Other comprehensive income (gain/loss) A/c Dr. $99,360

Other comprehensive income (prior service cost) A/c Dr. $410,000

To pension assets & liabilities A/c $675,000

To Cash A/c $285,000

(Being the pension expense is recorded)

For recording this we debited the pension expense, other income, gain or loss as it increased the expenses reduced the income and credited the cash and assets and liabilities because it reduced the cash and recognize the pension assets and liabilities

You might be interested in

Chun Hei is carrying out a marketing research study. Even after seeking all reasonable available secondary data sources, she has

stepan [7]

Answer:

Primary data

Explanation:

Since the available secondary data are not sufficient for the marketing research study, Chun Hei must collect primary data.

Primary data unlike secondary data are data that were not in existence beforehand. Such a data can not be found in any journals, books, websites or data sites. To get primary data a researcher has to go into the field and they can collect these data through questionnaires, surveys or interviews. Chun Hei will get the information she needs from first hand sources.

5 0

4 years ago

The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 5,000 sha

patriot [66]

Answer:

A. The preferred stock is noncumulative and nonparticipating

preferred dividends = $100 x 2,000 x 8% = $16,000

common stocks = $90,000 - $16,000 = $74,000

Preferred dividends not paid to noncumulative preferred stocks are "lost" and will not be paid in the future.

B. The preferred stock is cumulative and nonparticipating.

preferred dividends = ($100 x 2,000 x 8%) x 3 years = $48,000

common stocks = $90,000 - $48,000 = $42,000

C. The preferred stock is cumulative and participating.

preferred dividends = [($100 x 2,000 x 8%) x 2 years] + $25,777.60 = $57,777.60

common stocks = $90,000 - $57,777.60 = $32,222.40

When preferred stocks participate in the company's earnings, they receive an additional revenue proportional to the dividends received by common stockholders.

$32,222.40 / $250,000 (common stocks) = 12.8888%

$200,000 x 12.8888% = $25,777.60

3 0

3 years ago

After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May

umka2103 [35]

Answer:

question

1. how much amortization expense on the goodwill can Ingrid deduct in year 1, year 2, year 3?

2. In lieu of the original facts, assume that Ingrid purchase only a phone list with a useful life of 5 years for $16,500.

How much amortization expense on the phone list can Ingrid deduct in year 1, year 2 and year 3?

Explanation:

The explanation is shown in the file attached. Thank you i hope it helps

Download docx

3 0

3 years ago

How can taxes be used by the government to encourage or discourage the use of a

SVEN [57.7K]

Answer:

Taxes can be used to increase the price of producing or selling something which discourages firms from engaging in that activity.
If the government wants to encourage a particular activity, they could subsidize firms who engage in it.

For example there are extra taxes on cigarettes because the government sees them as harmful, these extra taxes increase the price of ciggarettes.

6 0

2 years ago

Brenda sees a television advertised around $500. when she finally buys one for $450, she feels she got a good deal. in this case

Butoxors [25]

Brenda sees a television advertised around $500. when she finally buys one for $450, she feels she got a good deal. in this case, the $500 price acted as an anchor.

A cognitive bias known as the anchoring effect describes a common human tendency to excessively rely on the initial piece of information proposed when making a decision.

Anchoring occurs when people base subsequent judgments on an earlier piece of information during decision-making. Once an anchor is established, subsequent decisions are made by moving away from it, and there is a bias toward framing subsequent data in relation to the anchor.

To learn more about anchor click here :

brainly.com/question/24182125

#SPJ4

7 0

2 years ago