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"The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2011 and 2012 are presented below ($ in millions): Information Provided by Pension Plan Actuary: a. Projected benefit obligation as of December 31, 2010 = $1,800. b. Prior service cost from plan amendment on January 2, 2011 = $400 (straight-line amortization for 10-year average remaining service period). c. Service cost for 2011 = $520. d. Service cost for 2012 = $570. e. Discount rate used by actuary on projected benefit obligation for 2011 and 2012 = 10%. f. Payments to retirees in 2011 = $380. g. Payments to retirees in 2012 = $450. h. No changes in actuarial assumptions or estimates. i. Net gain-AOCI on January 1, 2011 = $230. j. Net gains and losses are amortized for 10 years in 2011 and 2012. Information Provided by Pension Fund Trustee: a. Plan asset balance at fair value on January 1, 2011 = $1,600. b. 2011 contributions = $540. c. 2012 contributions = $590. d. Expected long-term rate of return on plan assets = 12%. e. 2011 actual return on plan assets = $180. f. 2012 actual return on plan assets = $210. Required: 2.Prepare the journal entries for 2011 and 2012 to record pension expense.
1) What are the tax advantages and disadvantages of the C corporation form of doing business . List at least 2advantages and 2 disadvantages. Explain each item on your list with an example.
an avoidable cost is a cost that can be eliminated as a result of choosing one alternative over another.a trueb false2.
The impact on net operating income of short-run changes in sales for a segment can be most clearly predicted by analyzing:
when an employee dies an employer may make payments to the surviving members of the family. those payments will be
analyze your current or desired employer to determine the likely characteristics of the most successful leader within
discuss the propriety of a increasing the stated value of goodwill prior to the negotiations and b eliminating
Discuss the capital budgeting process and the inputs that are used in capital budgeting.
Garrison Co. owns 20,000 of the 50,000 outstanding shares of Steele, Inc. common stock. During 2011, Steele earns $800,000 and pays cash dividends of $640,000. If the beginning balance in the investment account was $500,000, the balance at Decembe..
Why is it so important to obtain a letter of representations from an audit client?
so sweet has budgeted sales of 600000 cans of diet iced tea mix during june 2010 and 750000 cans during july.
lucas company recorded the following events last year on the statement of cash flows some of these events are
trevor hancock has just retired. he has set aside enough money in his retirement fund to be able to withdraw 15000 per
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