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Record pension expenditures are not always influenced by actuarial computations.
Hayward City maintains a defined benenfit 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.
The High and Dry Boat Company has $120,000 of 15% bonds outstanding along with 2,000 shares of $2.50 (dividend) preferred stock and 3,000 shares of common stock.
What is" balance sheet exposure". When converting a balance sheet from one currency to another currency what rate do we use? Are all balance sheet accounts adjusted as of the balance sheet date?
PIAB Enterprises has identified the following as having an impact on the company's quality costs:
In the past (20 to 30 years ago) people relied solely on defined benefit plans and social security for their retirement planning. I wonder if the baby boomers started realizing the potential shortcomings and decided to start saving for retirement ..
Streak Merchandising Company expects to purchase $ 60,000 of materials in July and $70,000 of materials in August. Three-quarters of all purchases are paid for in the month of purchase,
A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.
If Rushia Company determines that the fair value of the investment is now $3,900,000 and is using U.S. GAAP for its external financial reporting, which of the following is true?
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts.
Auditors should understand the five components of internal control that are sufficient to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and to design the nature, timing, and extent of further ..
Review the IRS website (www.irs.gov), and then provide a link to some information related to partnership formation or termination. Provide a brief summary of the link's contents?
Compare and contrast the accounting reporting criteria-including regulatory environment, issues with foreign currency, differences in GAAP, and any others-of a U.S. company with a foreign company.
Explain why are companies with small levels of inventory usually unconcerned with the choice of variable or absorption costing?
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