Love and affection are generally considered to be valid consideration
Indicate whether the statement is true or false
F
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TKE Corporation established a defined benefit pension plan in 2016. TKE has provided the following information for the year ended December 31, 2018: Service cost$90,000 Interest cost$120,000 Actual return on plan assets$70,000 Expected return on plan assets$80,000 Amortization of prior service costs$30,000 If the company contributes $130,000 cash to the pension plan trustee, which one of the following journal entries properly records the payment?
A.
| DR Pension expense | 120,000 | ? |
| DR Pension asset | 10,000 | ? |
| CR Cash | ? | 130,000 |
B.
| DR Pension expense | 130,000 | ? |
| CR Cash | ? | 130,000 |
C.
| DR Pension expense | 160,000 | ? |
| CR Cash | ? | 130,000 |
| CR Pension asset (liability) | ? | 30,000 |
D.
| DR Pension expense | 90,000 | ? |
| DR Pension asset (liability) | 40,000 | ? |
| CR Cash | ? | 130,000 |
Jill Nolte is a director of Accucomp Limited. It becomes insolvent. For which of the following would Nolte be personally liable?
A) Amounts due from failure to pay for goods ordered by Accucomp B) For injury to a customer caused by the negligence of an Accucomp employee C) For income tax deducted from employee wages but not sent to the government. D) Both A and C E) All of the above
Urban Commerce, Inc, issues bonds, which are also known as
a. cumulative investments. b. fixed-income securities. c. equity securities. d. preferred stock.
How do you find the probabilities needed to obtain expected frequencies for a test of a contingency table?
a. If there are r rows and c columns, let each probability be 1/rc. b. Use the probabilities specified in the null hypothesis. c. Assume H0 is true and use your data to calculate them. d. None of these choices.