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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

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Read 2 more answers

As a group, create a team charter for governing your future CLC activities. The charter should include plans for team building,

Over [174]

Answer:

First of all to create an effective team charter as road way for your group or team, for governing CLC activities the following needs to be considered

• Who are the people involved

• Who is a team leader and who resolves problems

• How long does it take to create a charter

• How long does the charter last

• Creating a Team purpose and mission to others in the organization

Explanation:

Now the first Method of having a good charter team usually involves the background 

When Creating a charter, you start from the initial stage or point. Questions would be asked on what areas of focus is this charting heading towards. Like what types of project, it would get involved in on the long /short term.

Questions can be asked as the following bellow, 

• Who is a team leader 

• What are the roles of each stakeholder in the team 

The second Method or role after having a startup background is now to focus on the deeper aspects of the charter like 

• How is success evaluated or measured 

• Having a lay down principles to guide the team or group in the right track 

• Define roles each team member would play in terms of the success of the company. 

• Have a mission and vision statement on how the company would grow on the long term 

 

The third Method after the Mission and vision statement is created for a successful team charter, it’s the roles and responsibility of team members. For this stage roles and responsibilities would be assigned to each group in the charter by defining the following terms

• Assign who is doing this for whom and the purpose 

• Having asses on all areas needed for the group to succeed 

• Ensure all Team members voice are known, expressed to their best of abilities. 

• Create what is called RACI (Roles, Accountable, consulted, Informed) roles and responsibilities matrix 

The Fourth Method of a successful team charter is Budget and Resources 

Once roles and responsibility have been established, the team/Group can access the budget and resources to carry out the tasked at hand. 

 

The Fifth Method of a successful team after budget and resources are, 

The internal checks, balance and reviews. 

The Team Members of the charter should decide, also, whether team goals assigned to members will be shown in the team members’ annual reviews. A good example of a reliable system is the SMART goal method The goals should be:

• Specific 

• Measurable 

• Achievable 

• Realistic 

• Time-based 

 

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3 years ago

Which of the following will not create minimum contacts in a state sufficient to find personal jurisdiction on an out-of-state d

Maurinko [17]

Answer: A company maintains a website that provides information about its products and that provides an address or number that a customer can contact to obtain an order form to purchase products directly from the company.

Explanation:

With different states having varying laws but yet still sharing a lot of business interests, it is important that the states know when they can have jurisdiction over a person.

Minimum contacts is the solution and is used to determine whether an entity has sufficient contacts in a state to warrant jurisdiction over them.

Simply having a website that can be accessed by people in a state does not fall under the provisions required for minimum contact to be met so the courts in this state cannot have personal jurisdiction over this company.

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A company sold $12,000 worth of bicycles with an extended warranty. it estimates that 2% of these sales will result in warranty

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We are tasked to determine the action of the company when it sold $12,000 worth of their product which is a bicycle including an extended warranty price. It is estimated that extended warranty amount is 2% of the value of the bicycle of these sales will result in warranty work. The company should recognize or acknowledge the warranty expense and liability of expense at every the end of the year.

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