Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
Projected Benefit Obligation Plan Assets Value
2019 $2,000,000 $1,900,000
2020 2,400,000 2,500,000
2021 2,950,000 2,600,000
2022 3,600,000 3,000,000
The average remaining service life per employee in 2019 and 2020 is 10 years and in 2021 and 2022 is 12 years. The net gain or loss that occurred during each year is as follows: 2019, $280,000 loss; 2020, $90,000 loss; 2021, $11,000 loss; and 2022, $25,000 gain.
Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.

Answer:

10%Corridor

2011 $0

2012 $250,000

2013 $295,000

2014 $360,000

Accumulated

2011 $0

2012 $280,000

2013 $367,000

2014 $372,000

Minimum Amortization of Loss

2011 $0

2012 $3,000

2013 $6,000

2014 $1,000

Explanation:

Calculation to determine the net gain or loss amortized and charged to pension expense under the corridor approach

Year, Projected Benefit Obligation (a) , Plan Assets, 10%Corridor, Accumulated d OCI (G/L) (a), Minimum Amortization of Loss

2011 $2,000,000 $1,900,000 $200,000 $ 0 $0

2012 $2,400,000 $2,500,000 $250,000 $280,000 $3,000(b)

2013 $2,950,000 $2,600,000 $295,000 $367,000(c) $6,000(d)

2014 $3,600,000 $3,000,000 $360,000 372,000(e) $1,000(f)

Calculation for 10%Corridor

2011 $0

2012 10%*$2,500,000 =$250,000

2013 10%*$2,950,000 =$295,000

2014 10%*$3,600,000 =$360,000

Calculation for Accumulated Depreciation and Minimum Amortization of Loss

a. As at the beginning of the year

b. ($280,000 – $250,000) ÷ 10 years = $3,000

c. $280,000 – $3,000 + $90,000 = $367,000

d. ($367,000 – $295,000) ÷ 12 years = $6,000

e. $367,000 – $6,000 + $11,000 = $372,000

f ($372,000 – $360,000) ÷ 12 years = $1,000

Therefore the net gain or loss amortized and charged to pension expense under the corridor approach are :

10%Corridor

2011 $0

2012 $250,000

2013 $295,000

2014 $360,000

Accumulated Depreciation

2011 $0

2012 $280,000

2013 $367,000

2014 $372,000

Minimum Amortization of Loss

2011 $0

2012 $3,000

2013 $6,000

2014 $1,000

In a statement of cash flows using the indirect method, an increase in the available-for-sale debt securities account due to an increase in the debt's fair value should be reported as: Group of answer choices A deduction from net income in determining cash flows from operating activities. Not reported. An investing activity. An addition to net income in determining cash flows from operating activities.

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Prepare journal entries for Coronado Company to record all the events in June and July. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

A buyer's closing statement shows different items, including a purchase price of $58,325, an assumable mortgage of $55,000, a survey fee of $250, total debits of $59,925.25, title insurance of $395, 1% loan origination fee, total credits of $58,295, 2% for discount points, contract deposit of $3,000, and rent prorations of $495. Based on this information, how much money does the buyer need to bring to the closing

The ABCD Partnership has the following balance sheet at January 1, 2017, prior to the admission of new partner, Eden. Cash and current assets $ 39,000 Liabilities $ 52,000 Land 234,000 Adams, capital 26,000 Building and equipment 130,000 Barnes, capital 52,000 Cordas, capital 117,000 Davis, capital 156,000 Total $ 403,000 Total $ 403,000 Eden acquired a 20% interest in the partnership by contributing a total of $71,500 directly to the other four partners. Goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: Adams, 15%; Barnes, 35%; Cordas, 30%; and Davis, 20%. After Eden made his investment, what were the individual capital balances

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g Excess reserves refer to the Multiple Choice difference between a bank's vault cash and its reserves deposited at the Federal Reserve Bank. minimum amount of actual reserves a bank must keep on hand to back up its customers deposits. difference between actual reserves and loans. difference between actual reserves and required reserves.

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a) take the train since you already paid for it
b) take the UBER
c) be indifferent between either modes of transportation
d) find another way to get to work

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(in thousands, except costs per unit) 40 Million Units 45 Million Units
Manufacturing costs
Direct materials $ 560,000 $ 630,000
Direct labor 220,000 247,500
Factory overhead 1,780,000 1,822,500
Total 2,560,000 2,700,000
Selling and administrative 1,120,000 1,125,000
Total $ 3,680,000 $ 3,825,000
Costs per unit
Manufacturing $ 64.00 $ 60.00
Selling and administrative 28.00 25.00
Total $ 92.00 $ 85.00
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(a) Determine the financial implications of accepting the order. (Hint: Use the high-low method to determine variable costs per unit.)
Accepting the offer will Answerdecreaseincrease
profits by $________
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Materials handling 90,000
Setups 75,000
Inspection 150,000

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Direct labor (375 hours) $7500
Number of material moves 4
Number of inspections 3
Number of setups 2
Number of machine-hours 150

Expected activity for the four activity-based cost drivers that would be used is:

Machine-hours 10,000
Material moves 2,000
Setups 100
Quality inspections 4,000


Required:
a. Determine the amount of overhead that would be allocated to the proposed job if 20,000 direct labor-hours are used as the volume-based cost driver.
b. Determine the total costs of the proposed job.
c. Determine the company's bid if the bid is based upon full manufacturing cost plus 30 percent.
d. Determine the amount of overhead that would be applied to the proposed project if activity-based costing is used.

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PLEASE QUICK HELP 35 POINTS!!!!!!!!!!!!! MC

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2. Bob's taxable gain (income)
3. Bob's basis in the property
4. Bob's basis in the partnership

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CLEAR TRANSMISSIONS COMPANY
Income Statement
For the Year Ended December 31, 2021 ($ in thousands)
Sales $ 2,160
Cost of goods sold 864
Gross margin 1,296
Salaries expense $ 388
Depreciation expense 250
Amortization expense 38
Interest expense 96
Loss on sale of cash equivalents 20 792
Income before taxes 504
Income tax expense 252
Net Income 252
CLEAR TRANSMISSIONS COMPANY
Selected Accounts from Comparative Balance Sheets
December 31, 2021 and 2020 ($ in 000s)
Year
2021 2020 Change
Cash 135 128 7
Accounts receivable 259 274 (15 )
Inventory 464 478 (14 )
Accounts payable 198 190 8
Salaries payable 106 114 (8)
Interest payable 54 48 6
Income tax payable 45 38 7
Required:
Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the indirect method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

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c. 8.36%
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