A marketing activity that can be considered a privacy risk is __

On January 1, year 8, Derek Co.’s defined benefit pension plan had plan assets with a fair value of $750,000, and a projected be

alexdok [17]

Answer: $27,000

Explanation:

Amortization of prior cost = (No. of employees / Total number of years left) * Unamortized prior service cost

Total number of years left:

2 employees are each expected to have 9 years remaining = 2 * 9

= 18 years

3 employees are each expected to have 6 years remaining = 3 * 6

= 18 years

4 employees are each expected to have 1 year remaining = 4 * 1

= 4 years

Total number of years = 18 + 18 + 4

= 40 years

Amortization of prior cost = (9 / 40) * 120,000

= $27,000

8 0

3 years ago

Eurodollars are _________. A. dollar denominated deposits at any foreign bank or foreign branch of an American bank B. dollar de

Ipatiy [6.2K]

Answer:

A. dollar denominated deposits at any foreign bank or foreign branch of an American bank

Explanation:

Are dominations deposited in US dollars in banks that are outside the united states thus are not under the rule or jurisdiction or federal laws. The eurodollar rate is also known as the LIBOR rate is equal to the base rate adjusted by minimum reserve requirements.

The eurodollar market accounts for a higher rate of interest, greater the flexibility of the maturities and has a wider range of investment in the qualities.
It has roots in WW2 when the US gave funds from the marshall plan to rebuild the European continent.

4 0

4 years ago

On october 2016, sengal Company recorded a joumal entry debiting prepaid rent and crediting cash for $1,200 in payment for one y

DIA [1.3K]

Answer:

C. Expense $300 of the expense on the income statement.

Explanation:

The correct answer is C.

On 31 December 2016, Sengal Company should report Rent expense of $300 on the income statement.

The initial journal entry was:

Dr Prepaid rent $1, 200

Cr Cash $1, 200

This journal entry recognizes the prepaid rent as an asset to the company because the rent is paid in advance, and they have not yet made use of the property they are renting. The payment is an annual payment, meaning that it is for 12 months. Assuming that the end of the financial year is at 31 December 2016, we know that a portion of the $1, 200 is in excess.

The monthly rent expense is $1,200 / 12 = $100. This means that only $100 is the expense for each month. By 31 December, only $300 was the rent expense. [ $100 x 3]. Sengal Company had paid $900 [$1, 200 - $300] in advance and that $900 was to remain as an asset (prepaid rent). The $300 should be recorded as an expense in the income statement and removed as an asset from the balance sheet.

The subsequent journal entry to record the expense is:

Dr Rent expense $300

Cr Prepaid rent $300

At the end of the financial year [31 December 2016], all income statement accounts must be correctly accounted for. This is because all income and expenses are closed of at year end and are not carried forward into the next financial year. This is according to the GAAP principle of ‘Matching’ which states that all income and expenses should be matched to the correct year in which they occur.

7 0

3 years ago

Sales total $500,000, and fixed costs total $300,000. The contribution margin ratio is 68%. Profit = $

marin [14]

Profit = $40,000

Given,

Total sales are $500,000

Total fixed costs are $300,000

Contribution margin ratio is 68%

Solution:

Profit = Total Sales × Contribution margin ratio − Total Fixed costs

= $500,000 × 68% − $300,00

=$340,000 −$300,000

Profit =$40,000

Profit:

Profit; also known as net income is the financial gain acquired when the amount of revenue generated by a company exceeds costs and expenses. Profit is the bottom line of a company′s income statement that shows the financial performance during the period.

Learn more about contribution margin :

brainly.com/question/18594744

#SPJ4

8 0

1 year ago

Gene Simmons Company uses normal costing in each of its three manufacturing departments. Factory overhead is applied to producti

kolbaska11 [484]

Answer:

Required A

Part 1

Actual overhead rate = Actual Overheads ÷ Actual hours used

Therefore,

Dep A = $35,640 ÷ 8,100 = $4.40

Dep B = $36,040 ÷ 1,440 = $25.03

Dep C = $38,220 ÷ 1,280 = $29.86

Part 2

Overheads applied = Overhead rate × hours used

Therefore,

Overheads applied = $4.40 × 650 hours = $2,860

Part 3

1. Actual costing delays product costing as the information is only available after the period.

2. Difficult to deal with for fluctuating or seasonal sales as new rates always need to be calculated.

Required B

Part 1

1. Product Costing can be done on time hence price setting can also be done at an earlier stage.

2. Rates are determined consistently for fluctuating or seasonal sales

Part 2

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted hours

Therefore,

Dep A = $380,000 ÷ 95,000 = $4.00

Dep B = $420,000 ÷ 70,000 = $6.00

Dep C = $510,000 ÷ 35,000 = $14.57

Part 3

Overheads applied = Predetermined overhead rate × hours used

Therefore,

Overheads applied for January,

Department A = $4.00 × 8,100 hours = $32,400

Department B = $6.00 × 1,440 hours = $8,640

Department C = $14.57 × 1,280 hours = $18,649.60

Part 4

If Actual Overheads > Applied Overheads, we say overheads are under-applied,

and

If Applied Overheads > Actual Overheads, we say overheads are over-applied.

Therefore,

Department A :

Actual Overheads = $35,640

Applied Overheads = $32,400

Therefore, overheads are under-applied by $3,240

Department B :

Actual Overheads = $36,040

Applied Overheads = $8,640

Therefore, overheads are under-applied by $27,400

Department C :

Actual Overheads = $38,220

Applied Overheads = $18,649.60

Therefore, overheads are under-applied by $19,570.40

Part 5

Department A

Cost of Sales = $3,240

Department B

Cost of Sales = $27,400

Department C

Cost of Sales = $19,570.40

Part 6

Department A

Cost of Sales = $3,240

Department B

Cost of Sales = $27,400

Department C

Cost of Sales = $19,570.40

Explanations :

See the formulas and calculations tied together with the solution above.

Note that :

If Actual Overheads > Applied Overheads, we say overheads are under-applied,

and

If Applied Overheads > Actual Overheads, we say overheads are over-applied.

Also that ,

Balances in the Overheads Account are closed off against the Cost of Goods Sold in the Income Statement.

7 0

3 years ago

A marketing activity that can be considered a privacy risk is ___