1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
When a u.s. company purchases and imports electronic parts from china to use to produce mp3 players within the united states, th
Alenkinab [10]
<span>I have highlighted the answers, please see below:

</span>When a U.S. company purchases and imports electronic parts from China to use to produce MP3players within the United States, this purchase increases the investment component of GDPwhile also decreasing net exports by the same amount. Therefore, the purchase of electronic parts from China causes no overall change in<span> US GDP.


The investment components of GDP will increase if anyone from the country will purchase goods and services from another country. In the above scenario, since US purchase electronic parts from China then the investment component will increase, then the net import will decrease by the same amount. In other words, the purchase of a product from another country will affect us.
</span><span>
</span>
5 0
3 years ago
Should i be a vetinarian
Grace [21]
You can be. 

If you like animals, this is a job for you. Ask yourself "Could I be a doctor?" If you think you could, then go for a vet job! 

Good luck! 
7 0
3 years ago
Read 2 more answers
Marketing is non-paid promotional communication presented by the media True False
Svetach [21]

true i the correct answer

3 0
3 years ago
Harte Systems, Inc., a maker of electronic surveillance equipment, is considering selling to a well-known hardware chain the rig
Taya2010 [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The proposed deal calls for the hardware chain to pay Harte $30,000 and $25,000 at the end of years 1 and 2 and to make an annual year-end payments of $15,000 in years 3 through 9. The final payment to Harte of $10,000 would be due at the end of year 10.

1)

Cash flows:

Year 1= 30,000

Year 2= 25,000

Year 3= 15,000

Year 4= 15,000

Year 5= 15,000

Year 6= 15,000

Year 7= 15,000

Year 8= 15,000

Year 9= 15,000

Year 10= 10,000

2) To calculate the present value we need to use the following formula for each cash flow:

PV= FV/(1+i)^n

Year 1= 30,000/1.12= 26,785.71

Year 2= 25,000/1.12= 22,321.43

Year 3= 15,000/1.12= 13,392.86

....

Year 10= 10,000/1.12^10= 3,219.73

PV= $104,508.27

3) The present value of cash inflows is higher than $100,000. It is more convenient to decline the $100,000.

4 0
3 years ago
Give an example of a case where a cost and a revenue function do not have a break-even point.
oee [108]
 An example of a case where a cost and revenue function do not have a break even point includes, when the profit margin is larger than the losses of the business. 
5 0
3 years ago
Read 2 more answers
Other questions:
  • Gundy Company expects to produce 1,308,000 units of Product XX in 2020. Monthly production is expected to range from 73,000 to 1
    14·1 answer
  • The fallacy of _____ is arguing erroneously that what can be said of the whole can be said of the parts.
    5·1 answer
  • Weatherall Enterprises has no debt or preferred stock¾it is an all-equity firm¾and has a beta of 2.0. The chief financial office
    7·1 answer
  • Holly Farms has sales of $509,600, costs of $448,150, depreciation expense of $36,100, and interest paid of $12,400. The tax rat
    6·1 answer
  • International Data Systems' information on revenue and costs is relevant only up to a sales volume of 115,000 units. After 115,0
    8·1 answer
  • Differentiate among the following.
    14·1 answer
  • The National Division of Roboto Company is buying 10,000 widgets from an outside supplier at $30 per unit. Roboto's Overseas Div
    5·1 answer
  • An adjusting entry was made on year-end December 31 to accrue salary expense of $2,200. Assuming the company does not prepare re
    11·1 answer
  • Billings Inc. has net income of $161,000, a profit margin of 7.6 percent, and an accounts receivable balance of $127,100. Assume
    12·1 answer
  • Who is the leader of EG
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!