Problem regarding the restructuring program

Reference no: EM131020518

At May 25, 2003, meeting, the Company approved a plan that a facility in Arkansas was to be closed on October 1, 2004, terminating 300 employees working there.One June 1, 2003, notified the employees of the restructuring plan. In order to encourage the employees to stay at the facility until the termination date, the company agreed to pay each employee $20,000 on April 1, 2005, six months after termination.Based on its traditional annual employee turnover of 80.5%, the company anticipated that 242 employees will collect the benefit. The present value factor of 0.98039 for the six-month period.1. In reporting to its U.K.- based on IFRS, provide all journal entries for June 1st 2004, June 30th 2004, October 31st 2004, Nov 30th 2004 for restructuring program.

Reference no: EM131020518

Questions Cloud

Describe the expected interest groups : Describe the expected interplay between demanders and suppliers, interest groups and analyze the public policy environment.

What is the opportunity cost of moving to point h : Econoland is currently producing at point B. What is the opportunity cost of moving to point H? Provide the units of measurement as well as a numeric value

Question regarding the restructuring program : In reporting to its U.K.- based on IFRS, provide all journal entries for June 1st 2004, June 30th 2004, October 31st 2004, Nov 30th 2004 for restructuring program.

Planning to save for retirement : You are planning to save for retirement over the next 35 years. To do this, you will invest $840 a month in a stock account and $440 a month in a bond account. The return of the stock account is expected to be 10.4 percent, and the bond account will ..

Problem regarding the restructuring program : In reporting to its U.K.- based on IFRS, provide all journal entries for June 1st 2004, June 30th 2004, October 31st 2004, Nov 30th 2004 for restructuring program.

The bridgestone tire debacle : “The Bridgestone Tire Debacle” of 2000. The crisis here was that there was a tendency of Firestone’s tire trends separating.

Hosting their annual convention : Procrastinators Anonymous (PA) is hosting their annual convention this coming year in Dallas, TX. Although this is not typical of this organization, they wish to plan ahead to determine what the cost of the keynote banquet ticket should be. If a tick..

What is the present value : What is the present value of $3,525 per year, at a discount rate of 10 percent, if the first payment is received 7 years from now and the last payment is received 25 years from now?

Designing an accounting system : When designing an accounting system, we need to think about the needs and knowledge of both the top managers and various other users.

User Account

All Pages