User Account

All Pages

What flash defined benefit cost for the year was

Assignment Help Financial Accounting
Reference no: EM132809054

Flash Inc. has a defined benefit plan for its employees. The following information relates to this plan:

Present value of defined benefit obligation, January 1, 2002        10,000,000

Fair value of plan assets, January 1, 2002                                  10,400,000

Service cost - 2002                                                                   800,000

Actual return on plan assets - 2002                                               900,000

Discount rate based on high quality corporate bonds                            10%

Expected rate of return on assets                                                        8%

Problem 1: An actuarial loss of ?20,000 was incurred during 2002. There was no unrecognized prior service cost or unrecognized gains or losses. Flash's defined benefit cost for the year was

a. 880,000.

b. 920,000.

c. 640,000.

d. 988,000

Reference no: EM132809054

Questions Cloud

Functions of human resource development : (Discuss and describe your main thoughts on the theories that explain the FOUR functions of Human Resource Development namely):
How much is the current service cost : How much is the current service cost? Increase in present value of defined benefit obligation during the year due to changes in actuarial assumptions
Dividend strategy : If you were the CEO of a publicly owned sports business, would you follow a low, middle, or high dividend payment strategy?
What is opinion of the death penalty : If you are in favor of it, imagine that you or someone you love is falsely accused of a crime and is facing the death penalty. Would this change your view? If s
What flash defined benefit cost for the year was : What Flash's defined benefit cost for the year was? An actuarial loss of ?20,000 was incurred during 2002. There was no unrecognized prior service cost
Compare and contrast the it scorecard : Compare and contrast the IT scorecard and dashboard approaches. Which, if either, would be most useful to you as a general manager? Please explain.
Perform an internet search on professional associations : List at least three associations, and discuss recruiting options listed on their websites (e.g., do they have discussion boards or job advertisements links?).
How much of hrm is customer service : How much of HRM is customer service? How important is attitude and kindness in an HRM role?
What net amount of remeasurement of the net defined : What net amount of remeasurement of the net defined benefit liability (asset) included in the defined benefit cost for 2002 would be?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate common-sized inventories

The asset side of the 2013 balance sheet for Leggett & Platt is below. The company reported cost of sales of $2,998.8 million in 2013 and $2,959.4 million in 2012. Calculate common-sized inventories for both years and comment on any differences that ..

  How much is the present value of defined benefit obligation

PELLUCID CLEAR Co. agrees to provide lump-sum ?12,000,000. How much is the present value of the defined benefit obligation on December 31, 20x2?

  Illustrate what about chain of custody before someone

Illustrate what about chain of custody before someone from the legal system discovers the evidence? If the evidence passes through several hands first, does that invalidate the chain of custody?

  Question a company has operational expenses of the

question a company has operational expenses of the subsequentjan - 250000feb - 350000mar - 275000apr - 250000may -

  What is your annualized holding period return

During this period the stock paid dividends of $3.60 per share. What is your annualized holding period return (annual percentage rate)

  Determine the annual straight-line depreciation

Determine the annual straight-line depreciation. Computer equipment was acquired at beginning of year at a cost of $79,200 that has estimated residual value

  What is the total income tax expense to be reported

At the end of 2020, its first year of operations, Chestnut Corp., What is the total income tax expense to be reported on the income statement?

  Determine the transfer price per pound of recycled aluminum

Determine the transfer price per pound of recycled aluminum. Consider that each division is considered a profit center; could the fabrication manager decide to purchase 10,000 pounds next month from Metalife?

  What is the initial outlay associated with the? project

What is the initial outlay associated with the? project? What are the annual free cash flows associated with the project for years 1 through 9 under each sales?

  Determine cost assigned to ending inventory

Determine cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d ) LIFO.

  What is npv for project if required return eight percent

A project that provides annual cash flows of $10,200 for nine years costs $38,000 today. What is the NPV for the project if the required return is 8 percent?

  Journal entry to record depreciation expense for equipment

Hearts Inc. acquired the following assets in January 2012. The equipment has been depreciated using the double-declining balance method for the first 2 years for financial reporting purposes. Prepare the general journal entry to record depreciation e..

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