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zzz [600]
3 years ago
9

Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $31,500 f

or medical insurance and contribute an additional $9,650 to a retirement program. Record the entry for these accrued (but unpaid) benefits on December 31.
Business
1 answer:
salantis [7]3 years ago
7 0

Answer:

Date                     Details                                                Debit               Credit

December 31,      Employee benefits expense            $41,150

                             Medical insurance payable                                    $31,500

                             Employee Retirement program                             $9,650

                             payable

Working

= 31,500 + 9,650

= $41,150

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Answer:

b. $4,908,000

Explanation:

According to the FASB GAAP, the straight line method is used in this given question which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($40,900,000 - $4,090,000) ÷ (15 years)

= ($36,810,000) ÷ (15 years)  

= $2,454,000

In this method, the depreciation is same for all the remaining useful life

For two years, the accumulated depreciation would be

= Annual year depreciation × number of years

= $2,454,000 × 2 years

= $4,908,000

7 0
3 years ago
Bundle A is strictly preferred to bundle B, and bundle B is strictly preferred to bundle C. If the utility associated with B is
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Answer: (63, 50, 44)

Explanation:

Utility is the satisfaction that we derive as consumers when we consume or use a certain product.

Since Bundle A is strictly preferred to bundle B, and bundle B is strictly preferred to bundle C, it means that the value of Bundle A must be more than B and C while that of Bundle B must be more than bundle C.

Therefore, the correct option is B which is (63, 50, 44)

3 0
2 years ago
Chloe Closson paid for her vacation to the mountains with a $3,000 installment loan at 10% for 12 months. Her monthly payments w
erastova [34]
If Chloe did not pay off the loan, she will payout 263.75 x 12 = $3165.00 

However, if Chloe pays off the loan with the sixth payment, she will pay out (263.75 x 5) + 1,786.20 = $3,086.95.

But the question is how much will she save? To get the answer just follow this:  3165.00 - 3086.95 = $78.05 

Therefore, Chloe saves $78.05 
7 0
3 years ago
As a member of UA Corporation's financial staff, you must estimate the Year 1 cash flow for a proposed project with the followin
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Answer:

Option (C) is correct.

Explanation:

EBIT = Sales revenues - Depreciation - Other operating costs

        = $39,500 - $10,000 - $17,000

        = $12,500

EBT/PBT = EBIT - Interest expense

               = $12,500 - $4,000

               = $8,500

PAT = EBT - Tax rate

      = $8,500 - 35% of $8,500

      = $8,500 - $2,975

      = $5,525

CFAT = PAT + Depreciation

         = $5,525 + $10,000

         = $15,525

Therefore, the Year 1 cash flow is $15,525.

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3 years ago
Write a sample professional greeting you would record on your professional cell phone to be heard by employers and recruiters if
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Answer:

<em>hello you have reached Micah micks office line if this is an emergency please hang up and call my personal line if this isn't please leave an voicemail and ill get back to you shortly thank you goodbye</em>

Explanation:

5 0
3 years ago
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