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Question - Gail's Horse Stables Corp. (GHS) provides a defined contribution pension plan for its employees. The agreement includes a mandatory contribution by GHS for all employees, and a matching requirement for employees who contribute their own money to the plan. Under the terms of the agreement, GHS's mandatory contribution to the pension trust is 6% of the employees qualifying earnings. The matching provision permits employees to contribute a maximum of 4% of their earnings to the plan as well. GHS must contribute an additional $0.50 to the plan for every $1.00 the employee contributes. The maximum required contribution by GHS is thus (6% + ½ (4%) = 8%). For the year-ended December 31, 20X8 compensation expense totalled $6.2 million including qualifying salaries totalled $5.0 million. During the same period, employees made $150,000 in contributions to the plan that qualified for matching. What is the total pension expense that GHS will recognize in its SCI for the year-ended December 31, 20X8?
Camilo’s property, with an adjusted basis of $361,600, is condemned by the state. Camilo receives property with a fair market value of $415,840 as compensation for the property taken. Camilo’s realized gain is $_____ and his recognized gain is $0 . T..
How does the income statement prepared for a company that sells goods (merchandiser) differ from that prepared for a service business
Assume the firm's tax rate is 30% and the discount rate for projects of this sort is 9%. What is the net cash flow at time
Tinkle-Tinkle Glass Company makes glass globe paper weights for desks. The company uses a job-order cost system and predetermined overhead rates apply manufacturing overhead cost to jobs. Compute the predetermined overhead rate used during the year ..
If it costs $152 per unit to produce SUSI, and the MSRP is $360, what is Company U’s per unit contribution margin in each of the three channels of distribution?
the partnership profit sharing ratio 3:2:5 a new partner, Harish enters the patnership bu purchasing existing interest in the partnership prepare the journal entry to record Harish's admission to the partnership, and compute the new capital balances,..
Rate for two years, after which it is expected to grow at a 6% annual rate forever. If the required return is 10%, what value would you place on this stock?
NoGrowth Corporation, It will continue to pay this dividend forever. What is the price per share if its equity cost of capital is 15% per year?
What is the beta of your portfolio? Your broker mailed you your year-end statement. You have $25,000 invested in Dow Chemical, $18,000
ABC Company acquired 25% of the outstanding ordinary shares, What total amount of goodwill of XYZ Company based on the price paid by ABC Company?
Micro, Inc., started the year with net fixed assets of $74,675. At the end of the year, there was $95,825 in the same account.
The rounded present value of an ordinary annuity of 1 for nine years at 9% is 5.60. What amount should Nordstrom report as lease liability on December 31, 2016?
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