Which of the following items attributable to a defined benefit pension plan would be recognized on a company's balance sheet? Projected Benefit Pension Plan Prepaid Pension Obligation Assets Costs I. Yes Yes Yes II. Yes Yes No III. Yes No No IV. No No Yes ?
A) I
B) II
C) III
D) IV
D
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Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450
and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was: A) 15,650 B) 14,850 C) 18,000 D) 17,250
A forecast based on the previous forecast plus a percentage of the forecast error is a(n):
A) qualitative forecast. B) naive forecast. C) moving average forecast. D) weighted moving average forecast. E) exponential smoothing forecast.
An invoice for P&L Manufacturing has the total list price in Cell E13. Write two ways that an 18% trade discount could be calculated in Cell E14
On January 4, 2018, Bailey Corp. purchased 40% of the voting common stock of Emery Co., paying $3,000,000. Bailey properly accounts for this investment using the equity method. At the time of the investment, Emery's total stockholders' equity was $5,000,000. Bailey gathered the following information about Emery's assets and liabilities whose book values and fair values differed: Book Value Fair Value ?Buildings (20-year life)$1,000,000 $1,800,000 ?Equipment (5-year life) 1,500,000 2,000,000 ?Franchises (10-year life)$0 $700,000 ?? Any excess of cost over fair value was attributed to goodwill, which has not been impaired. Emery Co. reported net income of $400,000 for 2018, and paid dividends of $200,000 during that year.What is the amount of the excess of
purchase price over book value? A. $3,000,000. B. $(2,000,000). C. $2,000,000. D. $800,000. E. $1,000,000.