User Account

All Pages

What amount should kane report as pension asset

Assignment Help Accounting Basics
Reference no: EM131806147

Question - The following information pertains to Kane Co.'s defined benefit pension plan for 20X8:

Pension Asset/Liability Jan. 1 $2,000 Db.

Service Cost 19,000

Interest Cost 38,000

Actual Return on Plan Assets 22,000

Amortization of Unrecognized

Prior Service Cost 52,000

Employer Contributions 40,000

Expected Return on Plan Assets 18,000

In its December 31, 20X8 balance sheet, what amount should Kane report as pension asset/liability?

a. $10,000 credit

b. $12,000 debit

c. $7,000 debit

d. $8,000 credit

Reference no: EM131806147

Questions Cloud

What amount should loch report in its december balance sheet : What amount should Loch report in its December 31, 20X9 balance sheet as prepaid pension cost
Firm accounts receivable balance : The inventory balance at the firm is $1,681,000, while its accounts payable balance is $1,842,000. What is the firm's accounts receivable balance?
Discuss about the best evidence rule functions : You are an assistant to the special agent in charge (SAC) of the Organized Crime Task Force.
What is the appropriate reorder? point : Barbara Flynn is in charge of maintaining hospital supplies at General Hospital. What is the appropriate reorder? point?
What amount should kane report as pension asset : In its December 31, 20X8 balance sheet, what amount should Kane report as pension asset/liability
Incremental cash flow associated with accounts receivable : The annual revenue of the division is estimated to be $23,000. Assuming that the customers take the full 20 days to pay
What are the pros and cons of triaging and treating patients : What are the pros and cons of triaging and treating patients at the scene of an event (as the British do) as opposed to the scoop and run method?
Incremental cash flow at the beginning of the project : You are the CFO of SlimBody, Inc., a retailer of the exercise machine Slimbody and related accessories. Your firm is considering opening up a new store
What are the nature and amount of jason gain or loss : Jason sold the bonds for $383,000 after amortizing $1,000 of the original issue discount. What are the nature and amount of Jason's gain or loss

Reviews

Write a Review

Accounting Basics Questions & Answers

  What would be the loss accrual

Sue Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:

  A company borrowed 50000 cash from the bank and signed a

a company borrowed 50000 cash from the bank and signed a 6-year note at 7. the present value factor for an annuity for

  The management of rathburn corporation would like to

the management of rathburn corporation would like to investigate the possibility of basing its predetermined overhead

  Would your answer be different in b if the productive

schopp inc. has been manufacturing its own shades for its table lamps. the company is currently operating at 100 of

  Will the decision about the transfer price affect

slagle corporation is a large manufacturing organization. over the past several years it has obtained an important

  Add or drop with net present value analysis franklin county

add or drop with net present value analysis. franklin county hospital a nonprofit hospital bought and insatlled a new

  What are budgeted purchases in units

Budgeted sales for December are 3,350 units. The November 30 inventory was 500 units. What are budgeted purchases in units

  At the end of 2013 framber company received 8000 as a

at the end of 2013 framber company received 8000 as a prepayment for renting a building to a tenant during 2014. the

  The expense recognition principle relates to credit losses

The expense recognition principle relates to credit losses by stating

  Is an auditor responsible for detecting fraud

Is an auditor responsible for detecting fraud, or just making sure that the financial statements don't have material misstatements and conform to GAAP?

  Defined-benefit pension plan that grants benefits employees

defined-benefit pension plan that grants benefits to its 100 employees for services rendered in years prior

  Downsizing and fixed costs

Do you believe this reduction in costs has substantially impaired the ability of these industries to meet the needs of their customers?

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