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coldgirl [10]
2 years ago
13

The following data relate to Ramesh Company’s defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1

$ 780 Expected return on plan assets 78 Actual return on plan assets 62 Contributions to the pension fund (end of year) 136 Amortization of net loss 16 Pension benefits paid (end of year) 23 Pension expense 108 Required: Determine the amount of pension plan assets at fair value on December 31. (Enter your answers in millions. Amounts to be deducted should be indicated with a minus sign.
Business
1 answer:
Stolb23 [73]2 years ago
5 0

Answer:

$955 million

Explanation:

Calculation to Determine the amount of pension plan assets at fair value on December 31

(millions)

Plan Assets Beginning of the year $780

Actual return $62

Cash contributions $136

Less: Retiree benefits($23)

End of the year pension plan assets $955

Therefore the amount of pension plan assets at fair value on December 31 is $955 million

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Mariah is single and has a monthly disposable income of $3,200. Her monthly cash outflow is approximately $2,800. Mariah include
Kryger [21]
It is d. <span>Her plan for protecting her assets. In case of an emergency, she should have renters insurance for her apartment.

Mariah has saved $15,000, from which, she will have $10,000 for a house down payment leaving her $5,000. Considering that she has to buy furnishings, her $5,000 will likely be used. Thus, she has to consider her spending.</span>
5 0
3 years ago
Laura, a sales manager at Dexter Inc., claims that labor and management are rivals for most organizations. Brooke, the HR manage
Afina-wow [57]

Answer:

Dexter Inc.

The statement that best supports Brooke's perspective is:

Examples of cooperation between labor and management include employee involvement in decision making and self-managing teams.

Explanation:

When labor and management act as rivals or adversaries, it does not benefit their organizations.  They should find common grounds for cooperation.  Organizations should involve their employees in more decision-making.  Despite their incongruent goals, unions and management should find win-win solutions.  Paying employees a living wage does not impoverish the organization.  On the contrary, everybody is greatly enriched.

3 0
3 years ago
Prepare adjusting entries for the following transactions.
g100num [7]

Answer:

1. Debit Depreciation expense  $1,340

  Credit Accumulated depreciation  $1,340

2. Debit Interest expense  $275

   Credit Accrued Interest  $275

3. Debit Supplies expense  $450

   Credit Supplies Account  $450

4. Debit Unearned Service revenue  $3,100

   Credit Service revenue  $3,100

5. Debit Salaries expense  $900

   Credit Accrued Salaries  $900

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

It is recorded by debiting depreciation and crediting accumulated depreciation.

When interest is incurred as an expense but yet to be paid, it will be accrued for by Debiting Interest expense and crediting accrued Interest. The same applies to salaries incurred but yet to be paid.

When Supplies is purchased, Debit supplies and credit Cash/Accounts payable. As Supplies are used up, debit supplies expense (with the amount used) and Credit Supplies account.

Amount of supplies used up = $550 - $100

= $450

When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are

Debit Cash account and Credit Unearned fees or deferred revenue.

As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.

Earned revenue = $4,000 - $900

= $3,100

5 0
3 years ago
Vanvalkenburg, Inc., manufactures and sells two products: Product Q5 and Product J0. The company has an activity-based costing s
Nata [24]

Answer:

c.  $88.17 per order

Explanation:

The computation of the activity rate for the production order is shown below:

Activity rate = Production orders ÷ order size

where,

The Production order is $70,536

And, the order size is 800

Now placing these values to the above formula

So, the activity rate is

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We simply applied the above formula so that the activity rate could come

4 0
3 years ago
Macrosoft Company reports net income of $61,000. The accounting records reveal depreciation expense of $76,000 as well as increa
melamori03 [73]

Answer:

Cashflow from Operating Activities                  $

Net income                                                         61,000

Add: items not involving movement of cash

Depreciation                                                    <u>76,000</u>

                                                                          137,000

Changes in working capital:

Increase in prepaid rent                                   (56,000)

Increase in accounts payable                           <u>11,000</u>

                                                                            92,000

Less: Tax                                                           <u>  16,000</u>

Cashflow from operating activities                   <u> 76,000</u>

Explanation:

Cashflow from operaing activities  using the indirect method equals net income plus depreciation minus increase in prepaid rent plus increase in accounts payable minus tax.

4 0
3 years ago
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