The amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.
<h3>Amount owe after adjustment</h3>
Using this formula
Amount owe=Service charges-(Deposit balance×(1-Reserve requirement)×ECR× Number of days/Number of days in a year)
Let plug in the formula
Amount owe = 2500 - (4126000× (1-.10)×0.45%×31/365)
Amount owe = 2500 - (4126000×.90×0.45%×31/365)
Amount owe=2500-1,419
Amount owe =$1081
Therefore the amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.
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Answer:
The pension expense for 2021 = $543,500
Explanation:
Service cost = $523,000
Amortization of prior service cost = $113,000
Settlement rate = 11%
Projected benefit obligation = $1,450,000
Accumulated benefit obligation = $3,600,000
Note: The necessary calculations are in the table attached as a file to this solution.
Answer: a. Liabilities increased by $1.0 million in 2018
Explanation:
In 2018, $9 million was used to settle the wage debt of 2017 and the remainder was used to settle the wages in 2018.
The money remaining in cash after the wage settlement was:
= 9,000,000 - 2,000,000 - 8,000,000
= -$1,000,000
This means that $1,000,000 of wages was not settled in 2018 which means that this would have to go to the Wages Payable account to signify that the company owes wages.
This account is a liability account so liabilities in 2018 would increase by $1,000,000.
If the consumer expected price increase for any reason in such good he will buy it before the time he expects to apply for that increase.
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