cember 2020. ticulars

Q: Define effective (or equivalent) annual rate (EAR or EFF%)

A: The effective annual interest rate is the real return on reserve funds or savings account or other…

Q: Question 3: Define the Followings • Annual Percentage Rate • Effective Annual Rate

A: Annual percentage rate (APR): The yearly rate that borrower pays on loan and investors receives on…

Q: Current Attempt in Progress Larkspur Company provides the following selected information related to…

A: Pension Expense - The amount that a company deducts as an expense for pension obligations owed to…

Q: Carla Vista Corporation has the following information available concerning its postretirement…

A: The post-retirement benefit expense refers to the expenses related to the pension. It is the amount…

Q: lowing facts apply Plan assets, January 1, 2025 Projected benefit obligation, January 1, 2025…

A: A benefit plan is a program or collection of perks that a business offers to workers in addition to…

Q: Bramble Industries Ltd. acquired two copyrights during 2020. One copyright was on a textbook that…

A: Internally generated intangible assets are not capitalised as it is difficult to establish their…

Q: assets (at fair value) sion expense ected benefit obligation ual contribution to plan umulated OCI…

A: Projected  benefit obligation for 2026 = $2,411,000 Plan asset (at fair value) for 2026  =…

Q: Flounder Corp. has the following beginning-of-the-year present values for its projected benefit…

A: Corridor = 10% of the greater of the projected benefit obligation or market-related value of plan…

Q: 9.7. You are to calculate rates effective for the year beginning Jan. 1, 2020 for one-year policies…

A: The amount of money an insurer is obligated to pay to cover claims, including the costs of…

Q: Question 9 of 20 View Policies Current Attempt in Progress Pension expense for 2022 is O $1923200.…

A: Employee benefits cost is one of important cost being incurred in business. This is also known as…

Q: Projected Benefit Obligation Balance, January 1, 2024 Service cost Interest cost, discount rate, 5%…

A: Pension Plan -A pension plan is a benefit offered to employees in which the company agrees to…

Q: Question 15: The 2021 Social Security wage base is Answer: А. S100,000 В. O $113,700 S125,000 D. O…

A: Social security wage base is highest earned  gross income in which social security tax  will be…

Q: Barry's Burgers reporte 2019 $300 000

A: Horizontal percentage change is calculated by change in value divided by the value of base year.…

Q: Benefit obligation, 1/1/2022, P9M FVPA, 1/1/2022, P10M Current service cost, P1.7M Past service…

A: Defined Benefit obligation The present value of a defined benefit obligation is the estimated future…

Q: Options have a unique set of terminology. Define the following terms: (4) Expiration date

A: Expiry date in derivatives is the last day of the legitimacy of derivative agreements, for example,…

Q: Problem 17-9 (Static) Determine pension expense; PBO; plan assets; net pension asset or liability;…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: 6. Find the maturity value if Php 70,000 is invested from August 18, 2019 to November 18, 2020mat a…

A: Maturity Value= P* (1+R*T) Here principal = Php 70000 Rate=14 1/4% Time = 458 days (November 18,…

Q: On January 1, 2021, Gorky-Park amends the plan to provide certain dental benefits in addition to…

A: Employees are one of important asset for business. Postretirement benefit expenses are those…

Q: Sandhill Corp. has the following beginning-of-the-year present values for its projected benefit…

A: The "projected benefit obligation" means liability for future benefits. It is an estimation of the…

Q: How much is the Continuing Franchise Fee Revenue to be recognized in 2021?

A: Given in the question: Royalty 5% Franchise Outlet opened May 1, 2021 Average…

Q: Calculate pension expense for 20X3 and 20X4. Prepare the required journal entries for 20X3 and 20X4.

A: This is the follow-up question. The pension expenses for the year is to be computed which has been…

Q: why this settlement date i.e. 8-03-2022 should be considered instead of 8-03-2020 ?? Please reply

A: Bonds are debt instruments that carry the annual coupon payment and face value to be paid on the…

Q: REQUIRED: A. Prepare a 2022 pension work sheet for Wilmington Ltd. 8. Calculate pension expense for…

A: Defined Benefit Obligations A defined benefit pension plan's "defined benefit obligations" (DBO) are…

Q: Preferred Dividend formula = Par value * Rate of Dividend * Number of Preferred Stocks.   can u…

A: The preferred dividend formula is used to calculate the amount of dividends that a company must pay…

Q: a. Projected benefit obligation as of December 31, 2020 = $3,200 b. Prior service cost from plan…

A: Pension expense is the expense which an entity charges for workers and employees’ future.

Q: Determine the carrying amount of the investment in associate on December 31, 2020

A: Carrying value is an accounting store of worth that bases the worth of an asset or firm on the…

Q: E19.2 (LO 1, 2, 3) (Computation of Pension Expense) Veldre Company provides the following…

A: It provides a breakdown of how the pension amount is calculated, taking into account various…

Q: What is maturity date?

A: Maturity dates are generally used in order to classify the securities as short term, medium term or…

Q: Evolution of XBRL for the past 10 years

A: XBRL (extensible Business coverage Language) may be a freely obtainable and world framework for…

Q: Question 5: Identify each item as describing Form 941, Form 940, or both. A. Includes a voucher that…

A: Form 940 and Form 941 are both federal taxation forms for employment. Form 940 is filled annually…

Q: How much is the defined benefit cost for 2022?

A: As per IAS 19 the entity should recognize the expenses to be paid to employee in future due to the…

Q: Explain how to set the date of the first adoption of IFRS and first reporting date in accordance…

A: The International Financial Reporting Standards (IFRS) were developed to ensure that accounting…

Q: What was the invested on July 29, 2021 if it amounted to P130 300 on March 6, 2022 at 2%?. Use the…

A: The banker's rule is based on a 360-day year, but you use the actual number of days in the term when…

Q: Bramble Company determined its ending imventory at cost and at LCNRV at December 31. 2020. December…

A: Journal entry is the first step in recording financial transactions in the books of company. It must…

Q: llowing beginning-of-the-year present values for its projected benefit obligation and market-related…

A: The projected benefit obligation name itself says it is an obligation of future liabilities. It is a…

Q: Explain the purpose and use of Form  W 4 from 2020 or later

A: The internal revenue service (IRS) Form W-4 is a tax document that employees use to inform their…

Q: What is the Gross Minimum Wage amount determined as TL for the first half of 2021? A) 2324 TL B)…

A: The gross minimum wage amount determined as TL for the first half of 2021 is 3577 TL.

Q: 6. Determine the future worth of PhP 10000 if it is deposited from January 15 to June 20, 2020, if…

A: Interest is money that is gained on money that has been deposited over a period of time. It is a…

Q: Maintenance expense in a waste treatment facility continue to increase uniformly for a period of…

A: Since you have posted multiple questions at once we will solve the first one for you. To get the…

Q: Interest coverage Ratio 2018 AGL Energy 17.98 Origin Energy Energy Australia 14.03 -5.80 12.87…

A: The ability of a company to cover its interest costs with earnings before interest and taxes (EBIT)…

Q: Amortizing prior service cost for pension plans will: Multiple Choice Increase liabilities. Decrease…

A: The term "amortization" refers to the process of gradually reducing the cost of intangible assets…

Q: Crane Corp. has the following beginning-of-the-year present values for its projected benefit…

A: The Projected Benefit Obligation is a pension term that refers to an estimate of the present value…

Q: Question 4: (Maximum 300 words ) Critically evaluate the three measurement approaches under IFRS 17…

A: the three approach are :   The General Measurement Model The Premium Allocation Approach Variable…

Q: Pharoah Corp. has the following beginning-of-the-year present values for its projected benefit…

A: Pension expense: It is an expense incurred by a business with regard to its pension liabilities of…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.