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
FrozenT [24]
3 years ago
8

Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that

the projected level of earnings on plan investments is $184,300, the service cost component is $245,000, and interest on the pension liability is $166,400 for the year. The City is amortizing a deferred outflow resulting from a change in plan assumptions from a prior year in the amount of $6,100 per year. Prepare journal entries to record annual pension expense for the enterprise fund.
Business
1 answer:
Sever21 [200]3 years ago
4 0

Answer:

Dr Service cost 245,000

Cr Interest 166,400

Cr Cash 411,400

Dr Plan assets - pension 411,400

Cr Service cost 245,000

Cr Interest 166,400

Explanation:

Preparation of the journal entries to record annual pension expense for the enterprise fund of Amherst City

Since we are Assuming that the plan investments was $184,300 while the service cost component is the sum of $245,000, and interest on the pension liability is the sum of $166,400 for the year this means the Journal entries to record annual pension expense for the enterprise fund of Amherst City will be:

Dr Service cost 245,000

Cr Interest 166,400

Cr Cash 411,400

(245,000+166,400)

Dr Plan assets - pension 411,400

(245,000+166,400)

Cr Service cost 245,000

Cr Interest 166,400

You might be interested in
A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global marke
Alex73 [517]

Answer:

The answer is 4. licensing

Explanation:

Licensing is a agreement in which a business allows a foreign firm to produce its goods or services or use its brand or design or use it patent for a fee. It is a marketing strategy.

In this question, Sodima(a French company) produces Yoplait. Sodima allows General Mills(in United States) to sell its Yoplait in the United States for a fee.

It is known as licensing.

3 0
4 years ago
What is the purpose of the BCC option in an email?
Alja [10]
Answer: To send a copy of the message to multiple recipients without revealing the entire list of recipients.

I hope this helped! (:
6 0
3 years ago
_______________ let you segment your company offerings by target market and are a great way to focus on different products separ
Rufina [12.5K]

Answer: LinkedIn Showcase Pages

                                 

Explanation: In simple words, showcase pages refers to the added feature which extends the traditional linked in page of the users. By using this feature customers of linked in can spotlight brand ,business unit or an initiative.

This feature was introduced for the niche audience of the website to create a memorable experience for them as they will be able to share their unique content.

This feature wide's the approach of the users as a showcase user can also tag companies and individuals in a showcase page to get their attention.

4 0
3 years ago
If the marginal damage caused by a certain type of pollution is $100 billion and the marginal cost of abatement is $180 billion,
Rom4ik [11]

Options :

A) society would be better off with zero pollution.

B) society would be better off if emissions were increased.

C) command and control policies should always be used.

D) Society would be better off if emissions were reduced

Answer:

Explanation: The marginal damage resulting from an emission refers to the extra damage resulting from the extra unit of emission released. Whereby the marginal cost of abatement refers to the cost incurred in reducing one extra unit of pollution. Taking a look at the cost of marginal damage incurred, which is $100billion and the marginal cost of abatement which is $180 billion. From an economic standpoint, aive the abatement cost considerably outweighs the marginal damage, it spending $180 billion to cover for a loss of $ 100 billion seems unreasonable. Therefore the society will be better off if emissions were increased.

8 0
3 years ago
A person borrows $370 from a payday loan company, paying $26 interest for two weeks. This would result in an annual interest rat
xeze [42]

Answer:

Rate= 168.65%

Explanation:

When loans are collected there is interest that is paid on the principal collected. The interest is usually expressed as a percentage per year.

The following formula is used to calculate interest rate

Interest = principal* rate* time

We are asked to calculate annual percentage

Rate = interest/(principal * time)

Interest bis paid every two weeks. That is twice a month, and there are 12 months in a years. That is 2*12= 24 times.

Total interest per year= 24* 26= $624

Using the formula

Rate= 624/(370*1)

Rate = 1.6865

Rate= 168.65%

8 0
3 years ago
Other questions:
  • Garth was amazed to hear that his friend Lindsey always pays off her credit card balance each month. Garth just assumed that eve
    15·1 answer
  • Succulent Juice Company manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of ope
    5·1 answer
  • EPS (Earning Per Share) is:_____.
    5·1 answer
  • The person who receives financial protection from a life insurance plan is called a: AInsured BBeneficiary CGiver DPayer
    8·1 answer
  • In a free enterprise system the decisions about what and how many goods and services will be produced are made by?
    12·1 answer
  • Bhakti was recently promoted to a sales management position. She had been an effective representative, but her strengths and edu
    9·1 answer
  • Your aunt has promised to give you $5,000 when you graduate from college. You expect to graduate three years from now. If you sp
    6·1 answer
  • There are 10,000 shares of $20 par value cumulative 7 percent preferred stock outstanding, and 90,000 shares of common stock out
    12·1 answer
  • Marigold Company sells one product. Presented below is information for January for Marigold Company.
    11·1 answer
  • Question 13 of 20
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!