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Point 1: On January 1, 2018. Tom's Transport Company's accumulated post retirement benefit obligation was $32,000,000. At the end of 2018, retiree benefits paid were $3,700,000. Service cost for 2018 is $6,200,000. At the end of 2018, there was no prior service cost or net gain or loss. Assumptions regarding the trend of future health care cost were revised at the end of 2018. The revision caused the actuary to revise downward the estimate of the APBO by $520,000. The appropriate discount rate was 5%.
Question 1: Calculate the APBO as at December 31, 2018.
On January 1, 2009, Clintwood Corporation issued a $1,000, ten-year, 10% bond payable (interest payable each December 31). For the three assumptions below, provide the following information assuming the accounting year ends December 31, and straig..
Julio is a corporate shareholder in the 34% tax bracket. He acquired 2,000 shares of stock in Gray Corporation seven years ago at a cost of $50 per share. In the current year, Julio received a payment of $150,000 from Gray Corporation in exchange for..
Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the scientific model is the Sci-X. Both models are assembled in the same plant and require the same assembling operations. The difference between the mo..
Comparison of Mutually Exclusive Projects based on EAC in two mutually exclusive projects
In 1777, Jacob DeHaven loaned George Washington's Army $450,000 in gold and supplies. Due to a disagreement over the method of repayment 9gold vs. Continental money), DeHaven was never repaid, dying penniless.
During its first year of operation, the company mined and sold 750,000 tons of ore. Compute the depletion charge per ton. Compute the depletion expense that Mertz should record for the year.
ABC's EBIT is $12 million. The depreciation expense is $0.5 million and interest expense is $0.5 million. The corporate tax rate is 45%. The company has 12 million in operating current assets and $6 million operating current liabilities. It has $5 mi..
Dental Diversity provides three basic service appointments; Cleaning, Check-up, and Full service. Total annual costs average $840,000. An RVU analysis indicates the following: Annual Average Appointments RVUs/appointment Cleaning 6,000 4 Check-ups 7,..
In which step of the audit process do auditors consider what can go wrong
Denton Company offers two products. At present, the following represents the usual results of a month's operations: find break-even in dollars. find the margin of safety in dollars.
Compute the current break-even sales (units). Compute anticipated break-even sales (units), assuming that the unit selling price is increased and all costs remain constant.
International commerce has rapidly increased as the Internet has provided a new and more transparent marketplace for individuals and entities alike to conduct international business and trading activities. Significant changes in the international eco..
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