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natima [27]
2 years ago
12

Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea

r, the following information was available with regard to the plan: service cost: $6.4 million, expected return on plan assets: $1.4 million, actual return on plan assets: $1.2 million, interest cost: $1.6 million, payments to retired employees: $2.2 million, and amortization of prior service cost (created when the pension plan was amended causing a drop in the projected benefit obligation): $1.3 million. What amount should Harvey Hotels report as pension expense in its income statement for the year
Business
1 answer:
exis [7]2 years ago
4 0

Answer:

$7.9 million

Explanation:

Calculation to determine What amount should Harvey Hotels report as pension expense in its income statement for the year

Service cost $6.4 million

Interest cost $1.6million

Expected return on plan assets($1.4million)

Amortization of prior service cost $1.3million

Pension expense $7.9million

Therefore The amount that Harvey Hotels Should report as pension expense in its income statement for the year is $7.9million

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George wants to collect funds to open his own bakery from his family. He needs an accurate estimate of how much money he would r
Alex

Answer:

I am not sure but I think B. is the answer

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3 years ago
Companies that try to act in a socially responsible way are likely to focus on such activities as Multiple select question. incr
kicyunya [14]

Companies that try to act in a socially responsible way are likely to focus on such activities as increasing the diversity of their workforce, providing safety equipment and training for their workers using recyclable packaging.

<h3>How can companies act in a socially responsible way ?</h3>

Companies that are trying to act in a socially responsible way would take steps to ensure that they protect labour, employ more minority groups and take steps to protect the environment. Companies that are trying to act in a socially responsible way often adopt ESG factors in their decision making processes.

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4 0
2 years ago
Ashton's gross pay is 82,000. He receives tax credits of 2,000. He pays total taxes of 4,500. What are his taxable and disposabl
svp [43]
A taxable income is the total amount of money left after being deducted by other government payments. Meanwhile, a disposable income is the accounting of income taxes in an employee's payroll. Therefore, Ashton's taxable income is, $80,000 while his disposable income is $75,500.
8 0
3 years ago
Read 2 more answers
Quantum Technology had $652,000 of retained earnings on December 31, 20X2. The company paid common dividends of $33,300 in 20X2
loris [4]

Answer:

(a) $546,300

(b) $12.88

Explanation:

(a)  Earnings available to common stockholders:

= Dividend + Retained Earnings

= 33,300 + 513,000

= $546,300

Earnings available to common stockholders means the amount available to distribute as dividend.

But the company need not pay full earnings as dividend. They may left some portion as retained earnings.

(b)  Earnings per share:

= Earnings available to common stockholders ÷ no. of shares of common stock

= $546,300 ÷ 42,400

= $12.88

3 0
3 years ago
Rylan Corporation received an offer from an exporter for 25,000 units of product at $16 per unit. The acceptance of the offer wi
hammer [34]

Answer: a.$275,000

Explanation:

Let us assume local production sales of 0 for simplicity of analysis.

At 0 there will be no Variable Costs and no fixed costs because they are dependant on the amount of units produced.

If then Rylan Corporation receives 25,000 units at $16 per unit this will change the Variable costs as it will have to incorporate the new units.

The question however says that normal production continues. This means that Fixed costs do not change. That means fixed costs remain at $0.

That means the only change will be the Variable costs of selling 25,000 units.

At a rate of $11 per unit we then have,

= 11 * 25,000

= $275,000

The costs have increased by $275,000 from 0 which means that $275,000 is the Incremental cost.

Note that Fixed and Variable costs of 0 are improbable and we're only used for simpler analysis. Feel free to try the question with other number of units for your own practice. You will arrive at the same answer regardless.

8 0
3 years ago
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