User Account

All Pages

Record the pension expenditure in the appropriate fund

Assignment Help Accounting Basics
Reference no: EM131786700

Question - Record pension expenditures are not always influenced by actuarial computations. Note I only need the NUMBER 2 answered, number one is not needed.

Hayward City maintains a defined benefit pension plan for its employees. In a recent year the city contributed $5million to its pension fund. However, its annual pension cost as calculated by its actuary was $7million. The city accounts for the pension contributions in a governmental fund.

1. Record the Pension expenditure in the appropriate fund.

2. Suppose in the following year the city contributed $6 million to its pension find, but its annual cost per actuary is only $5million. Prepare the appropriate journal entries.

Reference no: EM131786700

Questions Cloud

What is his federal income tax : His AGI includes $4000 of qualified dividends. Richard has no dependents and does not itemize deductions. What is his 2010 federal income tax
Discuss common expenses and net income of the firm : Prepare a departmental income statement showing departmental contribution to common expenses and net income of the firm
Determine how complex to make the wbs : So, how does a project manager determine how complex to make the WBS?
Useful for a job search for marketing position : Create a one-page resume that would be useful for a job search for a marketing position.
Record the pension expenditure in the appropriate fund : Record pension expenditures are not always influenced by actuarial computations. Record the Pension expenditure in the appropriate fund
Utah and minnesota incident reporting mandates : Part I: Review the Utah and Minnesota Incident reporting mandates. Compare these points:
How should crocs plan its production and inventory : How should Crocs plan its production and inventory? How do the company’s gross margins affect this decision?
Hr headline-pay for performance in public schools : "Pay for Performance" has made inroads in business, but has remained a hard sell in public school systems. There are some successful examples
Reebok globally are acceptable in modern times : Assess if the work conditions provided by Nike and Reebok globally are acceptable in modern times.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd