(Pension Expense, Journal Entries, Amortization of Loss) Gottschalk Company sponsors a defined benefit plan for its 100 employees. On January 1, 2017, the company’s actuary provided the following information.
Accumulated other comprehensive loss (PSC) $150,000
Pension plan assets (fair value and market-related asset value) 200,000
Accumulated benefit obligation 260,000
Projected benefi t obligation 380,000
The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2017, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $52,000; the projected benefit obligation was $490,000; fair value of pension assets was $276,000; the accumulated benefit obligation amounted to $365,000. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $11,000. The company’s current year’s contribution to the pension plan amounted to $65,000. No benefits were paid during the year.
Instructions
(a) Determine the components of pension expense that the company would recognize in 2017. (With only one year involved, you need not prepare a worksheet.)
(b) Prepare the journal entry to record the pension expense and the company’s funding of the pension plan in 2017.
(c) Compute the amount of the 2017 increase/decrease in gains or losses and the amount to be amortized in 2017 and 2018.
(d) Indicate the pension amounts reported in the financial statement as of December 31, 2017.

Answer:

C) Wages

Explanation:

A.P.E.X.

One can search for Alberto in Appointment Manager by Using an email address.

A social security number, often known as an SSN, is a special identification number used by citizens of the United States and other inhabitants of the nation.

The tool designed to manage your appointments is called appointment manager. With plenty of options, including the ability to specify opening days and hours, lunch breaks, numerous appointments at once, recurring appointments, and search and book services from other providers, it is simple to use, adaptable, and suitable with the majority of business and personal schedules.

Therefore, Option (a) is correct.

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Answer:

Different communication methods are used in different circumstances because sometimes a certain method will be more effective in terms of cost, time and impact, and sometimes it will be more appropriate.

Explanation:

Different communication methods are used in the business environment to suit different situations and needs. It is important to choose the right method of communication to ensure effective communication and to avoid misunderstandings.

There are some important communication methods are:

Face-to-face communication is utilized when there needs to be rapid clarification, feedback, or discussion.

When a written record of the conversation is required or the receiver cannot be reached in person, email is the preferred means of communication.

When a formal debate or presentation is required, this approach is employed in business meetings.

Social media is a technique utilized when a wide audience has to be reached fast.

Applications for team messaging are utilized when quick, informal communication is required among team members.

As a result, the significance of the different communication methods are used in the business environment are the aforementioned.

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Answer: DECA

Explanation:

Answer:

Option C, Double taxation on profits and individuals

Explanation:

The disadvantages of the corporation form of ownership are as follows -

a) It takes lot of time and hence is time consuming

b) The taxation gets double

c) Also, the formalities/protocols are very tough

Hence, the option C is correct

Answer: b. No, under the Business Judgment Rule, the members of the Board of Directors will not be held liable in this case.

Explanation:

The Board cannot be held liable for the failure of the plan because they acted in good faith when making the decision as they sincerely believed that it would help the company by making it more competitive.

They are therefore protected by the Business Judgement Rule which espouses that when the directors in a company make a decision, they do so in good faith and so should not be held liable if the decision does not achieve its desired objective. Of course this not not apply to illegal decisions.

Answer:

Requirement: Prepare a responsibility report for the Real Estate Products Division of McKenzie Co for 2019.

Note: See missing word attached as picture below

                            Responsibility report 2019

                                              Budget          Actual         Difference

Sales                                 $1,250,000    $1,175,000     75000 U

Variable costs

     Cost of goods sold       610,000        545,000         65000 F

      Selling & Admin            80,000         82,000           2000 U

       Total                           $690,000     $627,000        63000 F

Contribution Margin        $560,000     $548,000        12000 U

Controllable fixed cost

     Cost of goods sold        130,000         140,000         10000 U

      Selling & Admin            120,000         100,000         20000 F

       Total                           $250,000       $240,000       10000 F

Controllable Margin         $310,000       $308,000       2000U

Answer: 3.2%

Explanation:

The labor force of a nation consists of its working class population who are not retired, willing to work, and are not part of the military or defense bodies such as the Coast guard.

The labor force of this nation is therefore:

= Adult population - Retired people - Coast guard

= 35,000 - 3,000 - 432

= 31,568 people

If a thousand people are unemployed, the unemployment rate is:

= Unemployed / Labor rate

= 1,000 / 31,568

= 3.1568 %

= 3.2%

Answer:

Equilibrium level of spending = R

Explanation:

Firm 1 : I1 ( lobbying expenditure ) , P of firm 1 = I1/(I1 + I2 )

Firm 2 : I2( lobbying expenditure) , P of firm 2 = I2/(I1 + I2 )

The equilibrium level of spending for each firm will be = present value of net revenues that is being generated by the Franchise

i.e. equilibrium level of spending = R

Answer:

$197,923.86

Explanation:

A bank run happens when significant numbers of depositors withdraw money from banks at the same time out of concern that the institution will fail. With more customers withdrawing money, banks will deplete their cash reserves and eventually default.

A default happens when a borrower fails to make the due debt installments. Defaults on secured debt, such as a mortgage loan backed by a home, as well as unsecured debt, such as credit cards or a college loan, can occur. Borrowers who default are vulnerable to legal claims and may have limited future access to credit.

When a bank fails, the FDIC takes control and either sell the bankrupt bank to a more solvent bank or takes over the bank's functioning.

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Answer:

c

Explanation:

a $1000 deduct because your insurance covers it.

Hill Photographic Studio is a service-oriented business owned and run by Ann Hill. The balance sheet accounts, income statement accounts, and the chart of accounts serve as its foundation.

An agreement or communication between a buyer and a seller to trade products, services, or assets in exchange for money is a financial transaction. Any trade involves a shift in the financial situation of two or more entities, whether they be people or businesses. There are always one or even more financial assets involved in a financial transaction, most frequently money or another pricey object like gold or silver. Financial transactions come in a wide variety of forms. The most frequent kind, purchases, take place when a consumer is sold a thing, service, or other commodity in exchange for cash. The majority of purchases are done with cash, which can be physical money, debit cards, or checks. Credit, which provides instant access to funds in return for payback at a later time, is the other primary method of payment.

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Answer:

b

Explanation:

Answer:

b. unless the loss or damage is caused by a natural disaster.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

In this scenario, Earth Farm enters a contractual agreement with Fresh Express Inc., a common carrier, to have them transport a load of almonds.

By law, Fresh Express will be liable for any loss or damage to the almonds unless the loss or damage is caused by a natural disaster such as earthquake, volcanoes, flood, tsunami, etc.

This ultimately implies that, any loss or damage to the almonds incurred by Fresh Express based on intentional or artificial actions.

Answer:

b. unless the loss or damage is caused by a natural disaster.

Explanation:

Hope this helps

Answer:

Discount on bonds issuance = $15750

Explanation:

A bond is issued at a discount when the issue price of the bond is less than the face value of the bond. This usually happens when the coupon rate paid by the bond is less than the market interest rate. To calculate the amount of discount on bonds issuance, we simply deduct the issue price from the face value of the bond. Thus,

Discount on Bonds = Face value - Issue price

As we know the face value of the bonds is $700000 and the issue price is $684250, we can calculate the discount on issuance to be,

Discount on bonds issuance = 700000 - 684250

Discount on bonds issuance = $15750

Answer:

c. 97.558%

Explanation:

Options are "A. 50.0.% B. 2.442% C. 97.558% D.197.0% E. 47,442%"

Mean = μ = 1447

Standard deviation = σ = 715

Observed value = X = 2855

Using z-score formula, Z = (X - μ) / σ

Z = (2855 - 1447) / 715

Z = 1.97

P(Z<1.97) = 0.97558

P(Z<1.97) = 97.558%

So,  the probability of a stock-out is 97.558%.

Answer:

($7,000)

Explanation:

According to the scenario, computation of the given data are as follows,

Sold a long term investment = $7,500

Acquired investment in IBM = $14,500

So, we can calculate the net cash provided by using following formula,

Net cash provided = Sold a long term investment - Acquired investment in IBM

By putting the value, we get

Net cash provided = $7,500 - $14,500

= ($7,000)

Answer:

C

Explanation:

Frictional unemployment:  the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Meredith is searching for a job. Thus she is frictionally unemployed.

structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.

There seems to be a reduction in the demand for steel workers. Thus, Julie is structurally unemployed

Answer:

the franchise system of a reputed sandwich brand.

Explanation:

The  contractual vertical marketing system would be the organization that is the retail cooperative, wholesaler i.e. chain who do sponsor and many franchising programs. In this the parties are maintaining their independene and operate as individually but they work together in order to accomplish thir goals and objectives by having high efficiency

so according to the given situation, the last option is correct

Answer:

A. Alternative 1

B. No

C. No

Explanation:

a) Calculation to determine Which alternative should the borrower choose

First step is to calculate the EMI of Alternative 1 and Alternative 1 using this formula

EMI=[P∗R∗(1+R)^N]/[(1+R)N^−1]

Where:

P represent principal = $180,000

R represent interest rate per month = 9%/12 = 0.0075

N represent number of months = 240

Let Plug in the formula

EMI=[180000∗0.0075∗(1+0.0075)^240]/[(1+0.0075)^240^−1]....(1)

EMI=$1,619.51

EMI of the second mortgage in Alternative 2 = $468.63

Second step is to calculate the Total EMI

Total EMI=$1,619.51+$468.63

Total EMI=$2,088.14

Third step is to assume that the average cost of debt in Alternative (2) = R

$2,088.14=[220000∗R/12∗(1+R/12)^240]/[(1+R/12)^240−1]...(2)

Now let solve for the value of R in (2)

R=9.76%

Based on the above calculation we can that Alternative 2 which is 9.76% is greater that Alternative 1 which is 9.5% which means that the borrower should choose ALTERNATIVE 1 $220,000 loan at 9.5 percent for 20 years

b) Calculation to determine if your answer would change if the borrower plans to own the property for only five years

First step is to calculate the loan balance in Alternative 2 after 5 years

Ending balance Loan 1 in Alternative 2 = $159,672.69

Add Ending balance Loan 2 in Alternative 2= $37,038.78

Total balance $196,711.47

Now let assume that the cost of debt in Alternative 2 = R

Hence,

$220,000=$2,088.14∗PVIFA (60payments,R/12)+$196,711.47/(1+R/12)^60....(3)

Let solve for R in the equation (3)

R=9.74%

NO. Based on the above calculation my answer would NOT change if the borrower plans to own the property for only five years reason been that the cost of debt is greater in Alternative 2 which means that Alternative 1 will be preferable.

c) Calculation to determine if your answers to (a) and (b) would change if the second mortgage had a 10-year term

First step is to calculate EMI in the case of 10 year term in Alternative 2

First mortgage EMI $2,280.16

Add Second mortgage EMI $597.24

Total EMI $2,877.40

($2280.16+ $597.24)

Second step is to consider that R is the cost of debt

Hence,

$2,877.40=[220000∗R/12∗(1+R/12)^120]/[(1+R/12)^120−1]...(4)

R = 9.75%

Based on the above calculation Alternative I is preferable because of the lower cost of debt.

Let calculate the ending balance after 5 years in Alternative 2

Ending balance Loan 1 in Alternative 2 109,843.19

Add Ending balance Loan 2 inAlternative 2 26,248.89

Total balance $136,092.08

Now let assume that the cost of debt in Alternative 2= R

Hence,

$22,000=$2,877.40∗PVIFA(60 payments,R/12)+$136,092.08/(1+R/12)^60....(4)

Let solve for R in equation (3)

R=9.74%

NO. Based on the above calculation my answers to (a) and (b) would NOT change if the second mortgage had a 10-year term reason been that the cost of debt is greater in Alternative 2 which means that Alternative 2 will be preferable.

Answer:

It will take 3 years and 37 days to cover the initial investment.

Explanation:

Giving the following information:

Initial investment= $78,000

Cash flow= $20,000

The payback period is the time required for the cash flows to cover the initial investment:

Year 1= 20,000 - 78,000=-58,000

Year 2= 20,000 - 58,000= 38,000

Year 3= 20,000 - 38,000= 18,000

Year 4= 20,000 - 18,000= 2,000

To be more accurate:

(2,000/20,000)= 0.1*365= 37

It will take 3 years and 37 days to cover the initial investment.

Answer:

abcdefu

Explanation:

Such an account is called a "benami account"

The scenario you described, where a bank account is opened in the name of 'X' with full KYC (Know Your Customer) of 'X', but 'X' later sells the account to 'Y' who uses it without 'X' being aware of the transactions, does not have a specific term commonly used to describe it. It seems to be an unauthorized use of someone else's bank account.

However, it is important to note that such a scenario raises significant legal and ethical concerns. Using someone else's bank account without their knowledge or consent is generally considered fraudulent and illegal in many jurisdictions. It's crucial for individuals to protect their personal information, including bank account details, and to promptly report any suspicious or unauthorized activity to their bank or relevant authorities.

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Answer:

Witt Corporation

Stockholders' Equity Section of the Balance Sheet at the end of the year:

Authorized share capital:

10% Preferred stock, $10 par, 21,600 shares

Common stock, $8 par, 50,900 shares

Issued and outstanding:

10% Preferred stock, $10 par, 9,500 shares   $95,000

Additional Paid-in Capital- Preferred                  83,000

Common stock, $8 par, 43,600 shares           348,800

Additional Paid-in Capital- Common stock       189,400

Retained earnings                                              55,000

Total equity                                                      $771,200

Explanation:

a) Data and Analysis:

Authorized share capital:

10% Preferred stock, $10 par, 21,600 shares

Common stock, $8 par, 50,900 shares

Transactions:

a. Cash $463,200 Common stock $308,800 Additional Paid-in Capital-Common $154,400, 38600 shares at $12 per share

b. Cash $ 110,400 10% Preferred stock $69,000 Additional Paid-in Capital-Preferred $41,400, 6,900 shares at $16 per share

c. Cash $142,600,000 Common stock $40,000 Additional Paid-in Capital-Common $35,000 10% Preferred stock $26,000 Additional Paid-in Capital-Preferred $41,600 5,000 shares of the common stock at $15 per share and 2,600 shares of the preferred stock at $26 per share

d. Net income for the year = $55,000

Cash:

Common stock                                  $308,800

Additional Paid-in Capital-Common    154,400

10% Preferred stock                              69,000

Additional Paid-in Capital-Preferred     41,400

Common stock                                     40,000

Additional Paid-in Capital-Common    35,000

10% Preferred stock                             26,000

Additional Paid-in Capital-Preferred    41,600

Total cash                                         $716,200

Answer: C) Two-way information flow can give the company customer information and insights.

Explanation:

An online community, can also be referred to as the also web community, and this simply means a community whereby the members can interact with one another through the Internet.

A key marketing benefit of forming an online community by GlaxoSmithKline is that there'll be a two-way information flow that can give the company customer information and insights.

For example, through the use of social media, the company can communicate with the customers and also get feedbacks from them.

Answer:

Infinity Diner

General Journal Entries:

Dec. 3 Debit Accounts receivable (Brian Chan) $6,900

Credit Sales Revenue $6,900

To record the sale of merchandise on account.

Dec. 11 Debit Accounts receivable (Gloria Lupo) $3,600

Credit Sales Revenue $3,600

To record the sale of merchandise on account.

Jan. 2 Debit 10% Notes receivable (Brian Chan) $6,900

Credit Accounts receivable (Brian Chan) $6,900

To record the acceptance of a 30-day note in payment of account.

Jan. 10 Debit 12% Notes receivable (Gloria Lupo) $3,600

Credit Accounts receivable $3,600

To record the acceptance of a 30-day note in payment of account.

Feb. 1 Debit Cash $657.50

Debit 14% Notes receivable (Brian Chan) $6,300

Credit 10% Notes receivable (Brian Chan) $6,900

Credit  Interest revenue $57.50

To record the acceptance of a 60-day note for the remaining balance.

Feb. 9 Debit Accounts receivable (Gloria Lupo) $3,636

Credit 12% Notes receivable (Gloria Lupo) $3,600

Credit Interest revenue $36

To record the dishonor of note on maturity date.

Apr. 2 Debit Cash $6,447

Credit 14% Notes receivable (Brian Chan) $6,300

Credit Interest revenue $147

To record the receipt of cash for full settlement on account.

Explanation:

a) Data and Analysis:

Dec. 3 Accounts receivable (Brian Chan) $6,900 Sales Revenue $6,900

Dec. 11 Accounts receivable (Gloria Lupo) $3,600 Sales Revenue $3,600

Jan. 2 10% Notes receivable (Brian Chan) $6,900 Accounts receivable (Brian Chan) $6,900 30-day note in payment of account.

Jan. 10 12% Notes receivable (Gloria Lupo) $3,600 Accounts receivable $3,600 30-day note in payment of account.

Feb. 1 Cash $657.50 14% Notes receivable (Brian Chan) $6,300 10% Notes receivable (Brian Chan) $6,900 Interest revenue $57.50 60-day note for the remaining balance.

Feb. 9 Accounts receivable (Gloria Lupo) $3,636 Notes receivable (Gloria Lupo) $3,600 Interest revenue $36

Apr. 2 Cash $6,447 14% Notes receivable (Brian Chan) $6,300 Interest revenue $147

Answer:

the options are missing, so I looked for a similar question:

A. A black market exchange rate of $0.05/VEF because the government peg overvalues the bolivar

B. A black market exchange rate of $0.20/VEF because the government peg overvalues the bolivar

C. A black market exchange rate of $0.05/VEF because the government peg undervalues the bolivar

D. A black market exchange rate of $0.20/VEF because the government peg undervalues the bolivar

The answer should be:

The bolivar should be worth much less if anyone could buy or sell dollars freely, thereofre, this means that the bolivar is overvalued by the Venezuelan government.

Explanation:

Results

At the end of 20 years, your savings will have grown to $4,811.

You will have earned in $3,311 in interest.

Answer:

b

Explanation: