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Shalnov [3]
2 years ago
9

Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea

r, the following information was available with regard to the plan: service cost: $6.2 million, expected return on plan assets: $1.2 million, actual return on plan assets: $1 million, interest cost: $1.4 million, payments to retired employees: $2 million, and amortization of prior service cost (created when the pension plan was amended causing a drop in the projected benefit obligation): $1.1 million. What amount should Harvey Hotels report as pension expense in its income statement for the year? Group of answer choices $7.5 million $8.7 million $7.7 million $1.4 million
Business
1 answer:
Viktor [21]2 years ago
7 0

Answer:

$7.5 million

Explanation:

Calculation to determine What amount should Harvey Hotels report as pension expense in its income statement for the year

Service cost $6.2 million

Add Interest cost $1.4 million

Less Expected return on plan assets($1.2 million)

Add Amortization of prior service cost $1.1 million

Pension expense $7.5 million

Therefore the amount that Harvey Hotels should report as pension expense in its income statement for the year is $7.5 million

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What process is designed to help new employees become familiar with their jobs and organizations?.
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8 0
11 months ago
You have $ 10 comma 000 to invest. You decide to invest $ 20 comma 000 in Google and short sell $ 10 comma 000 worth of​ Yahoo!
Naddik [55]

Answer:

expected return is 18%

volatility of the​ portfolio 13.23 %

Explanation:

Your Investment: $ 10,000

Invest $ 20,000 in Google, Google's expected return is 15 %

Sell $ 10,000 worth of​ Yahoo! Yahoo! Yahoo!'s expected return is 12 %

=> The weight of your portfolio is 2 for the Google stock, and -1 for the Yahoo stock.  The negative sign for the Yahoo stock indicates a short position in the stock. The expected return is the weighted average of the returns on the two stocks:

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