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MaRussiya [10]
3 years ago
15

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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ValentinkaMS [17]

Answer:

1 and 6,  3 and 4, 8 and 9, 2 and 7

Explanation:

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3 0
3 years ago
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Accounts receivable from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively.
natima [27]

Answer:

a. $118,000

Explanation:

When preparing a cash flow statement, using indirect method we add decrease in current assets and we deduct increase in current assets.

Here it is provided that income reported = $110,000

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Change in Accounts receivables = Closing - Opening = $32,000 - $40,000 = - $8,000

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Correct option is

a. $118,000

6 0
3 years ago
Administrative oversight given to self-managed teams does not typically include
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Which of the following is a rule of thumb for cell phone or smartphone etiquette?
Makovka662 [10]
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3 years ago
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If a bank decides that it wants to hold​ $1 million of excess​ reserves, what effect will this have on checkable deposits in the
Alja [10]

Answer:

C. Checkable deposits decline by $10 million.

Explanation:

The banks must keep a reserve of money at Central Banks, the amount is defined by the reserve ratio, 10% in this case, but the banks could keep an extra reserve of money at Central Banks, in this case it's $ 1 million, so, if the bank decides to keep that reserve it means will be less money available to checkable deposit in the same amount.

When the banks keeps reserve by his own will, the required reserve ratio is not applicable to the amount, is the same situation as if we want to keep our money in the bank, for banks, they keep money in Central Banks.

hoping having been clear.  

7 0
3 years ago
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