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jeka94
2 years ago
5

Dean has earned $70,000 annually for the past five years working as an architect for WCC Inc. Under WCC's defined benefit plan (

which uses a 7-year graded vesting schedule) employees earn a benefit equal to 3.5% of the average of their three highest annual salaries for every full year of service with WCC. Dean has worked for five full years for WCC and his vesting percentage is 60%. What is Dean's vested benefit (or annual retirement benefit he has earned so far)?A. $7,350.B. $0.C. $12,250.D. $42,000.
Business
1 answer:
nadya68 [22]2 years ago
8 0

Answer:

A. $7,350

Explanation:

The computation of the vested benefit is shown below:

= Average salary × given percentage × five years × vesting percentage

= $70,000 × 3.5% × 5 years × 60%

= $7,350

Hence, the correct option is A.

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Cost-benefit analysis is a process that involves which of the following?
Effectus [21]

Answer:

c. Determining the profit that results from production decisions.

Explanation:

Cost-benefit-analysis( CBA) is a business decision-making tool that helps managers analyze and decides on projects.  The CBA approach compares the total benefits arising from a situation or a project against its related costs before making a decision. This approach uses financial data, such as expected revenues and expenses, to determine the viability of projects.

Undertaking a cost-benefit analysis assists the business to engage in profitable ventures only.  The CBA method ensures a business stays profitable by rejecting proposals that are likely to results in losses.

6 0
3 years ago
The following account balances were extracted from the accounting records of Thomas Corporation at the end of the​ year: Account
Hatshy [7]

Complete Questions:

The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year: Accounts Receivable $1,105,000. Allowance for uncollectible accounts (credit) $37,000. Uncollectible-Account Expense $64,000 .  What is the net realizable value of the accounts receivable?

A. $1,142,000

B. $1,169,000

C. $1,105, 000

D. $1,068,000

Explain

Answer:

Thomas Corporation

D. $1,068,000

Explanation:

1. Data and Calculations:

Accounts Receivable $1,105,000

less Allowance for uncollectible accounts (credit) $37,000

Net realizable value = $1,068,000

2. Thomas Corporation's Accounts Receivable balance is a debit balance and the Allowance for uncollectible accounts is a credit balance.  Since the Allowance for uncollectible accounts is a contra account to the Accounts Receivable, when the two are netted, the balance is the net realizable value of the Accounts Receivable.

3. Thomas cannot include the Uncollectible-Account Expense of $64,000

in the computation of the net realizable value since it has been charged and closed to the income summary and as a temporary account, it cannot be treated as other permanent accounts.

7 0
3 years ago
In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of
mash [69]

Answer:

Bad debt expense: 114,000

Explanation:

Dinty Inc. during the year canceled the accounts receivable it had attempted to collect and failed for $ 32,000 and reported a provision for bad accounts of $ 82,000. Both operations have to be registered against "Bad debt expenses" because they represent accounts receivable that are presumed to be without recoverable value.

Bad debt expense   114,000

Accounts receivables            32,000  

Provision for bad accounts           82,000

                   114,000   114,000

4 0
3 years ago
Applying the time-period concept
Gelneren [198K]

Answer:

a) $200

b) $3,000

c) $900

d) $50

Explanation:

The amount of each adjustment will be as follows

a) Business receives $2,000 on January 1 for 10-month service contract for the period January 1 through October 31.

Thus,

Monthly amount

= Total amount ÷ Duration from January 1 through October 31.

= $2,000 ÷ 10

= $200

b)  Total salary for all employees is $3,000 per month. Employees are paid on the 1st and 15th of the month.

since the salary is paid per month it will be remain $3,000 after adjusting

c) The bill for the customer for the month is $900

d) The interest payable will remain same as $50 is paid each month

6 0
3 years ago
The country imposes a tariff on foreign-produced goods. (For simplicity, suppose that the effect of the tariff is the following:
Shtirlitz [24]

Answer:

It is said that the country imposes a tariff on the foreign produced goods due to this implementation of tariff the demand for the domestic goods is also high, as a result the exports demand rises. Due to this effect the real exchange rate rises from E1 to E2 and the equilibrium point increased from point one to another.

8 0
3 years ago
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