Calculate the accumulated postretirement benefit obligation

Assignment Help Accounting Basics
Reference no: EM13847448

Hart Corporation has an unfunded postretirement health care benefit plan. Life insurance and medical care benefits are provided to employees who render 12 years of service and attain age 55 while in service to the company. At the end of 2013, John Sousa is 35. He was hired by Hart five years ago at age 30 and is expected to retire at the age of 62. The expected postretirement benefit obligation for John is $50,000 at the end of 2013.

Required: Calculate the accumulated postretirement benefit obligation at the end of 2013 and the service cost for 2013 pertaining to John.

Reference no: EM13847448

Questions Cloud

Identify key ideas and concept within a real life scenario : Logical flow leading the reader from start to finish on a clear path of addressing the assessment requirements; clear identification and description of current state; clearly leading into the solutions; application of correct report format.
Level of measurements : Title of Assignment: Level of Measurements.  Objective: All studies required statistical plan for data collection and measurement. The researcher could follow different procedures which require different types of data level. The data contain some..
Discuss how dunn can use john''s knowledge of deli business : Discuss the leadership challenges that Dunn himself must address in the areas of personal skills, leading change, diversity, knowledge management, office politics and empowerment; Discuss how Dunn can use John's knowledge of The Deli business to hi..
What are examples of opportunity costs : What is the difference between NPV,IRR, Payback analysis and how are these methods related. What are examples of opportunity costs and incremental cash flows. How does the cash flow of a project impact whether or not a company pursues a certain proje..
Calculate the accumulated postretirement benefit obligation : Calculate the accumulated postretirement benefit obligation at the end of 2013 and the service cost for 2013 pertaining to John.
What does a practicing industrial- organizational psychologi : What does a practicing industrial- organizational psychologist do
What is the expected postretirement benefit obligation : What is the expected postretirement benefit obligation at the end of 2013? What is the accumulated postretirement benefit obligation at the end of 2013?
Multiple roles and relationships in the supervisory process : Multiple roles and relationships in the supervisory process
Determine the moral status of the fetus : Which theory or theories are being used by Jessica, Marco, Maria, and Dr. Wilson to determine the moral status of the fetus and how does the theory determine or influence each of their recommendation for action?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Explain how wal-mart employs jit throughout their stores

Explain how Wal-Mart employs JIT throughout their stores. How does the use of JIT affect the vendors for Wal-Mart

  Identify at least two errors that can occur when

what is cash flow in accounting? bullwhen considering an investment opportunity one prominent investor believes the

  Allocate the overhead costs to the producing departments

charlie company manufactures a high spf sunscreen lotion using two producing departments mixing and bottling. three

  Maximum commitment-minimum required after-tax return

We expect that we can receive annual incremental income after taxes of $15,000 which includes an adjustment for uncollectible accounts. What is the maximum commitment to A/R we should be willing to assume if our firm's minimum required after-tax r..

  Kessler inc received the following information from its

kessler inc. received the following information from its pension plan trustee concerning the operation of the companys

  Deductions independent contractors

Which of the following best describes the deductions independent contractors may claim for valid business reasons?

  Corporate income statement assessment

Prepare Nguyen Corporation's income statement for 2011, including earnings per share, assuming a weighted average of 100,000 shares of common stock outstanding for 2011.

  Department a had no beginning inventory the department

department a had no beginning inventory. the department added direct materials of 120000 and conversion costs of 176000

  Give information to decide how much to pay in investments

Hal requires a return of 8% on eachof these investments. Provide information to help Haldecide how much he should pay for each of these investments.

  Maria addai has been offered a future payment of 28500 two

maria addai has been offered a future payment of 28500 two years from now. if she can earn 6.80 percent compounded

  Hewtex electronics manufactures two products tape recorders

hewtex electronics manufactures two products tape recorders and electronic calculators and sells them nationally to

  April 1 20x7 a pressing machine was sold for 71000 it

april 1 20x7 a pressing machine was sold for 71000. it originally cost 185000 and had a book value on december 31 20x6

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd