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Pension data for Goldman Company included the following for the current calendar year:
service cost $100,000PBO, January 1 750,000plan assets, Janauary 800,000amortization of prior service cost 6000dsicount rate 8%expected return on plan assets 10%actual return on plan asset 12%
Required:
Determine pension expense for the year.
Present a list of the three controlling accounts used in the general ledger to record the inventories and, in each case, indicate the related subsidiary ledger.
The floor space of Rocky's residence is 2,500 square feet, and he estimates that 20% of this is devoted exclusively to the repair business. Gross income from the business is $12,000, while expenses (other than home office) are $5,000. Expenses rel..
A house worth $70,000 is purchased with a down payment of $20,000 and a mortgage amortized over 20 years. If the interest rate is 14% compounded semi- annually;
Net cash flow provided (used) by operating activities. Net cash flow provided (used) by investing activities. Net cash flow provided (used) by financing activities.
Page Company is contemplating the acquisition of a machine that costs $50,000 and promises to reduce annual cash operating costs by $11,000 over each of the next six years.
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
Mayberry Gas Corp. sells $200,000 of bonds to private investors. The bonds are due in five years, have an 8% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 6%. What proceeds does Mayberry receive from the investors?
Is everything that is being expressed by Ekstrom and the Belgium management above board? What are the respective hidden agendas that can be anticipated for each party, and in what way do they coincide? In what way can they be expected to diverge?
Select which of these is NOT an example of a financial expert.
Can a nonprofit (not-for-profit) organization release restrictions on a "strike fund" and use it in the general fund for current year activity? Why or why not?
The manager of an operating department just received a cost report and he has made the following comment respect to the cost allocated from one of the service departments:
Winfrey Co.'s March 31 inventory of raw materials is $ 150,0000. Raw materials purchases in April are $ 400,000, and factory payroll cost in April $220,000.
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