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2 years ago

Pension data for David Emerson Enterprises include the following:_______.

Business

1 answer:

MrMuchimi2 years ago

8 0

Answer:

$151 million

Explanation:

Calculation to determine the service cost component of pension expense for the year ended December 31.

Projected benefit obligation, December 31 $485 million

Add Benefit payments to retirees, December 31 $58 million

Less Interest cost ($42 million)

(350*12%)

Less Projected benefit obligation, January 1 ($350 million)

Service cost $151 million

Therefore the service cost component of pension expense for the year ended December 31 will be $151 million

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At year-end (December 31), Chan Company estimates its bad debts as 0.50% of its annual credit sales of $823,000. Chan records it

Rudiy27

Explanation:

The journal entries are as follows

On December 31

Bad debt expense Dr $4,115 ($823,000 × 0.50%)

To Allowance for doubtful debts $4,115

(Being the bad debt expense is recorded)

On Feb 01

Allowance for doubtful debts Dr $412

To Account receivable $412

(Being the uncollectible amount is recorded)

On June 5

Account receivable $412

To Allowance for doubtful debts Dr $412

(Being the uncollectible amount is recorded)

On June 5

Cash Dr $412

To Account receivable $412

(Being the cash received is recorded)

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3 years ago

Joanie recognizes that the board and CEO are particularly worried that individuals will post negative information about the comp

Vilka [71]

Answer:

Should create a non disclosure agreement policy

Explanation:

This is a legally binding agreement that mandates parties to a contract in this case between an employer with an employee, in which the employee agrees not to disclose publicly or to any one negative information about the company that is deemed confidential (secret or private), and that may affect the company negatively.

Thus, to reduce the worries of the board and CEO, Joanie should create a non disclosure agreement signed by employees.

8 0

2 years ago

Rita and Paul are married and both work outside the home. Paul works as a contractor, and Rita is employed by a company. Paul te

Vesna [10]

Your answer is A. Paul is correct because the government always withholds money for taxes due from all incomes.

4 0

3 years ago

The field of accounting that reports according to generally accepted accounting principles (GAAP) is called:cost accounting.fina

Flauer [41]

Answer:

Financial accounting

Explanation:

The Generally accepted accounting principle (GAAP) is the standard, principles and procedures that accountant must follow or adhere to when compiling financial statements. The major objective of GAAP is to make the accounting process uniform so financial reports are comparable from one company to another.

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3 years ago

National Chemical Company manufactures a chemical compound that is sold for $55 per gallon. A new variant of the chemical has be

shepuryov [24]

Answer:

National Chemical Company

New Variant of a Chemical Compound:

The effect on total profit if National produces the new compound variant is that total profit increases by $33,200

Explanation:

a) Data:

Selling price of old chemical = $55

Selling price of fined chemical = $78

Initial demand for the new compound = 8,300 gallons

Refining costs for the new compound = $157,700

b) Calculations:

Profit from new fined chemical = $23 ($78 - 55)

Differential Sales revenue = $190,900 ($23 x 8,300)

Differential processing costs $157,700

Effect on total profit = $33,200

c) Refining a chemical always add some value to the chemical. The additional value added is the differential sales revenue that National generates minus the additional processing costs involved to get the chemical refined.

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2 years ago