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natima [27]
3 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]3 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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D.Now, if the inflation rate is 18%, the nominal rate of interest on the CD is 24%, and the interest is not taxable, what is the
Gennadij [26K]

Answer: 6%

Explanation:

Inflation increases prices in an economy and therefore makes a currency weaker because the currency will only be able to buy less than what it was able to.

Inflation therefore affects returns which is why the real returns are the more relevant measure.

The real interest rate accounts for inflation by using the formula:

= Nominal rate - Inflation rate

= 24% - 18%

= 6%

8 0
3 years ago
1. Legal Reasoning Fact Scenario V:
Ray Of Light [21]

The given case involves c. both a state and a federal discrimination claim.

<h3>What is a Discrimination Claim?</h3>

This refers to the allegations that are leveled by an employee against his employer about job discrimination based on factors such as immigration status, national origin, etc.

Hence, we can see that in a discrimination claim, if the laws are the same, then a judge can make a decision and apply it to both federal and state claims.

With this in mind, we can see that because Rapunzel who lives in Massachusetts files a discrimination claim against her employer, this is both a federal and state claim because it happened in Massachusetts and she had exhausted her administrative remedies.

This leads to the consideration of the courts to file her claim as this can be arrived at based on the question of A. whether the case can be tried in federal court and which courts have personal jurisdiction over Rapunzel.

Read more about discrimination claims here:

brainly.com/question/5987026

4 0
2 years ago
The resource management planning process includes the following steps:
mote1985 [20]

Answer:

The correct answer is C

Explanation:

Resource management plan is a kind of tool which is used by the project managers in order to manage the resources. Basically, a resource management plan is used to control the most vital resource of every project, which is the human resource.

The last and final step in the resource management plan is maintaining or keeping a resource inventory.

6 0
3 years ago
________ is the practice wherein an organization gives another organization the right to use its brand name, technology, or prod
Sliva [168]

Answer: Licensing

Explanation:

A licensing is the term which is used to the refers to the official permission that should be taken from the other organization for manufacturing their products and the services.

The main purpose of the licensing is that the organization can easily run their business by accomplish the the licensing practices which include the qualification, training and the professional experience.

According to the given question, the licensing is one of the practices that one company gives permit or rights to the another company for using their technology and the brand name.  

 Therefore, Licensing is the correct answer.

 

6 0
4 years ago
Under the allowance method, a.bad debt expense is recorded when specific customer accounts are determined to be uncollectible. b
solniwko [45]

Answer:

B) the allowance account and estimates are used.

Explanation:

When a company uses the allowance method, it will record an adjusting entry for the losses it anticipates from bad credits given to customers. The bad debts expense account is debited and the allowance for doubtful accounts (contra asset) is credited. Then as time passes and the amount of bad debts is  exactly determined, another adjusting entry is necessary depending whether the estimate was correct or not, or if it was under or over estimated.

6 0
3 years ago
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