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E20-7B (Basic Pension Worksheet) The following defined pension data of Eagle Homes Corporation apply to the year 2014. Projected benefit obligation, January 1, 2014 (before amendment) $1,255,000 Plan assets, January 1, 2014 1,195,600 Pension liability, January 1, 2014 59,400 On January 1, 2014, Eagle Home Corp., through plan amendment, grants prior service benefits having a present value of 200,000 Settlement rate 6% Service cost 69,000 Contributions (funding) 85,000 Actual and expected return on plan assets 43,610 Benefits paid to retirees 52,000 Prior service cost amortization for 2014 25,000 Instructions For 2014, prepare a pension worksheet for Eagle Homes that shows the journal entry for pension expense and the year-end balances in the related pension accounts.
This year the only significant expense that they incurred was an unreimbursed medical expense of $3,200. If Jon and Holly together have AGI of $42,000, what is the amount of their standard deduction this year?
Prepare a retained earnings statement for the year. (List multiple entries in descending order of amount.) Prepare a stockholders' equity section at December 31, 2008.
The capital balance for Bolcar is $110,000 and for Neary is $40,000. The two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary). Kansas invests $50,000 in cash into the partnership for a 30 percent ownership. The bonus me..
If the bonds bear interest at 12%, which is paid semiannually on January 1 and July 1, what is the total cost to be debited to the investment account?
If you received the utility bill for $400 but the bill is not due until the 15th of the following month how would you journalize them? What account would be debited and what would be credited?
If management decides to buy part I50 from the outside supplier rather than to continue making the part, what would be the annual impact on the company's overall net operating income?
Desiree Griseta Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2004 in which no benefits were paid. Determine the amounts of the components of pension expense t..
Which of the "decision" are relevant to the auditor's evidence accumulation?
In exchange for all of its stock, Aqua receives: assets (basis of $380,000 and fair market value of $1.8 million), trade accounts payable of $125,000, and loan due to a bank of $375,000. The proceeds from the bank loan were used by Shawn to provid..
Beginning work in process totaled $15,000, and the ending balance is $9,000. During the year, the company completed 40 machines. How much is the cost per machine?
Describe the following trade controls: Tariffs, subsidies, and quotas. How do these trade controls affect relationship of trading partners and what is their value in international business.
Snyder, Inc., which has excess capacity, received a special order for 4,000 units at a price of $15 per unit. Currently, production and sales are anticipated to be 10,000 units without considering the special order. Budget information for the curr..
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