His lesson starts on time (change into negative)

Guys i am new in brainlee can anyone explain me about brainlee

Aloiza [94]

First: Welcome! This app is for questions people may have. Mainly school questions. They have grade levels starting from Middle to College level. You can mark people the braniest if they give a really good answer to your question. Also, if you earn so many points you eventually level up (which is an awesome thing because it means you are helping a lot of people!) Hope you enjoy the app! (:

6 0

3 years ago

The projected benefit obligation was $460 million at the beginning of the year. Service cost for the year was $25 million. At th

juin [17]

Answer:

The question is not complete:

Here is the complete question:

The projected benefit obligation was $460 million at the beginning of the year. Service cost for the year was $25 million. At the end of the year, pension benefits paid by the trustee were $21 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuaries discount rate was 5%. The actual return on plan assets was $24 million although it was expected to be only $23 million.

What was the pension expense for the year?

Here is the answer: The pension expense is $25 million.

Explanation:

Pension is the form of defined benefit contribution plan which require employers to make certain periodic contribution on behalf of employees. This contribution is reported as an expense in the income statement if even though the benefit has not been enjoyed by the employees. To determine the value of this expenses to be included in the income statement, the components of the pension expenses are relevant.

Components of pension expense are service cost, interest cost, return on plan asset, amortization of prior service costs and gain or loss from change in asset value.

Here is the determination of the pension expense as required by the question.

$`M

Service cost 25

Interest ($460,000,000*5%) 23

Expected return on plan asset (23)

Amortization of prior service costs -

Gain or loss in change in value -

Pension expense 25

4 0

3 years ago

Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $20 million. The machinery can be sold to the Romula

muminat

Answer:

1) Book Value= $16,464,000

2) Market Value = $19,080,000

Explanation:

The first question is to determine the book value of Klingon's assets today. Book value is the carrying value of the business in its balance sheet.

Book Value = Net working Capital + Current Liabilities + Net Fixed Assets

Net working Capital= $226,000

Current Liabilities= $700,000

Net Fixed Assets= $15,500,000

Book Value = $226,000+ $700,000+$15,500,000= $16,464,000

2) Calculate the market value

The formula for market value = How much the machinery was sold to Romulans today+ today's value of the current assets if they are liquidated

The market value of assets is a function of the current market price they can be sold for and received on the day of the valuation

Market Value= $18,000,000 + $1,080,000= $19,080,000

4 0

3 years ago

Active endeavors specializes in sporting equipment. recently, it has decided to add to its business units by opening a steakhous

poizon [28]

Active endeavors specializes in sporting equipment. Recently, it has decided to add to its business units by opening a steakhouse near a convention center. This strategy is an example of: conglomerate diversification.

Conglomerate diversification is a growth strategy when organizations add new products or services that are vastly different from anything they've sold prior. These new business opportunities are unrelated to their previous and operate completely different.

5 0

3 years ago

Slapshot Company makes ice hockey sticks and sold 1,890 sticks during the month of June at a total cost of $378,000. Each stick

Grace [21]

Answer:

Slapshot Company

Income statement for the month of June

Sales ( 1,890 x $360) $680,400

Less Costs of Sales ($378,000)

Gross Profit $302,400

Selling Costs :

Commissions $68,040

Other Selling Expense $64,700

Administrative Expense $53,800 ($186,540)

Net Income $115,860

Explanation:

The Income statement shows the Profit earned during the reporting period. This is determined as Gross Profit (Sales - Cost of Sales) minus the Operating Expenses.

6 0

3 years ago

His lesson starts on time (change into negative)​

His lesson starts on time (change into negative)