What items make up Pension Expense under a defined benefit pension plan?
What will be an ideal response?
| • | Service Cost - the increase in the total pension liability attributable to current year |
| • | Plus interest on the total pension liability, |
| • | Minus projected earnings on the plan assets, |
| • | Plus increases (less decreases) in the total pension liability attributable to current |
| • | Plus amortization over the service life of the employees of any increases in the total |
| • | Plus amortization over 5 years of the excess of projected plan return over actual |
You might also like to view...
Josh owns a 25% capital and profits interest in the calendar year GDJ Partnership. His adjusted basis for his partnership interest on October 15 of the current year is $300,000. On that date, the partnership liquidates and makes a proportionate distribution of the following assets to Josh. Partnership’s Basis in Asset Asset’s Fair Market Value CashInventory$ 70,000 120,000 $ 70,000 150,000 ? a.Calculate Josh’s recognized gain or loss on the liquidating distribution, if any, and his basis in the distributed inventory. b.How would your answer to a. change if the partnership also distributed a small parcel of land it had held for investment to Josh? Assume the land has a $5,000 adjusted basis (FMV is $8,000) to the partnership.?
What will be an ideal response?
According to Rotter, those who attribute the cause of events to external reasons have a high internal locus of control while those that attribute the cause of events to internal reasons have a high external locus of control.
Answer the following statement true (T) or false (F)
Cottage in a Teapot is a small retailer of decorative merchandise. The price charged by its suppliers after allowance for all discounts is the ________ price.
A. net B. list C. zone D. discretionary E. marginal
The sale of an exporter's accounts receivable on capital goods, commodities, and other high-value goods, with the payment due at least 180 days out is
A. time draft. B. factoring. C. consignment. D. banker's acceptance. E. forfaiting.