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Alex73 [517]
3 years ago
10

Bissell Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Plan asset

s Balance, January 1 $ 460,000 Balance, January 1 $ 260,000 Service cost 197,000 Actual return 37,000 Interest cost 39,000 Annual contribution 113,000 Benefits paid (85,000 ) Benefits paid (85,000 ) Balance, December 31 $ 611,000 Balance, December 31 $ 325,000 The long-term expected rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year
Business
1 answer:
Vikentia [17]3 years ago
8 0

Answer:

$210,000

Explanation:

Calculation to determine the pension expense for the year

Service cost $197,000

Interest cost $39,000

Less Expected return on plan assets ($26,000) ($260,000*10%)

Pension expense $210,000

Therefore the pension expense for the year will be $210,000

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The job order cost sheets used by Greene Company revealed the following: Job. No. Bal., May 1 May Production Costs 134 $ 1,700 $
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First, the multiple Choices for the question

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B. 2900 ; 1200

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SOLUTION

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1) The question is to determine the Cost of Goods sold for May

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= The cost of Job 134 = $1,700

The cost of Job 135 = Balance Ma y 1 + May Production Costs = $1,200 + $300

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