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
Kirby just inherited $250,000. He would like to hire a financial advisor to provide financial advice and to manage the inheritan
Blababa [14]

Answer:

The answer is A.

Explanation:

According to the details given in the question on the two financial advisor's approach, the first advisor does not request a payment but a commission on the funds purchased with the inheritance money. The second advisor does request payment for the job and also a share on the assets managed with the inheritance money.

If Kirby wants to minimize the upfront expenses which can be described as the sum that is paid before a service or a job is done, then the first advisor is the better option. So the answer is A.

I hope this answer helps.

5 0
3 years ago
Cashiers at the supermarket are allowed to adjust the price of an item up to a maximum of​ $5.0 without getting the​ manager's a
Alekssandra [29.7K]
I didn't even read it
8 0
4 years ago
Home Security Systems is analyzing the purchase of manufacturing equipment that will cost $95,000. The annual cash inflows for t
Citrus2011 [14]

Answer:

internal rate of return is 20.463%

Explanation:

given data

Year   Cash Flow

1         $48,000

2         $46,000

3          $41,000

equipment cost = $95,000

to find out

Determine the internal rate of return

solution

we consider here  internal rate of return  is x

so we can say present value of inflows = present value of outflows

equate here

$95000 = \frac{48000}{(x)} +\frac{46000}{(x)^2} +\frac{41000}{(x)^3}  

solve it we get

x = 20.463 %

so internal rate of return is 20.463%

5 0
4 years ago
Fresh Baked Goods has 36,800 shares of stock outstanding at a market price of $24.91 per share. What will be the price per share
Cloud [144]

Answer:

$23.50 per share

Explanation:

The computation of the price per share after considering the stock dividend for the 6% is shown below:

= (Number of shares outstanding × market price per share) ÷ (Number of shares outstanding × 1 + stock dividend )

= (36,800 shares × $24.91) ÷ (36,800 shares × 1.06)

= $916,688 ÷  39,008 shares

=  $23.50 per share

Hence, the price per share is $23.50 per share

5 0
3 years ago
Which of the following is not true about the national income identity given by the equation: S +(T - G) = 1 + CA?
kati45 [8]

Answer:

None of the options are False.

Explanation:

CA means Current Account Balance

T means Taxes

G means Government Spending

S equals National Savings and

I equals Investment

Cheers!

4 0
3 years ago
Other questions:
  • Which of the following are included in the employer's payroll taxes?
    15·1 answer
  • Which of the following is NOT a requirement for becoming a police officer?
    12·2 answers
  • How many times does 6 go into 138
    12·1 answer
  • My question is below. PLEASE HELP ASAP!!! THANKS ;)
    8·1 answer
  • An analyst in the corporate finance department at Chase Manhattan Bank has been assigned to an interdepartmental project involvi
    5·1 answer
  • A proposed administrative rule is published in 
    5·1 answer
  • In the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product ________ to check the d
    13·1 answer
  • How do i know im not gay
    9·2 answers
  • Two countries trade with each other regularly. Country A has a strong economy and buys
    7·2 answers
  • 5.ABC Company is planning to market a new model of product X. The management
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!