Pension data for Goldman Company included the following for the current calendar year: Service cost PBO, January 1 Plan assets, January 1 Amortization of prior service cost Amortization of net loss Discount rate, 8% Expected return on plan assets, 10% Actual return on plan assets, 12% a Required: Determine pension expense for the year. Note: Amounts to be deducted should be indicated with a minus sign. Pension expense Pension Expense $ 136,000 670,000 720,000 5,200 1,200

Q: What are the important guidelines for Selecting a MARR?

A: It places a base gainfulness prerequisite on the discount rate, or MARR, which a venture or…

Q: Why was the Sarbanes-Oxley Act developed and enacted?

A: Introduction:- The Sarbanes–Oxley Act of 2002 is a federal law in the United States that sets…

Q: What would the journal entry be?

A: A pension plan is usually an agreement between the employer and employee wherein, the employer…

Q: What is ethical accounting

A: Ethics: At its most basic level, ethics is a set of moral rules that guide behavior. They have an…

Q: What is ALCO and what important duties do they perform?

A: A resource with economic value that a person, company, or country owns or controls with the…

Q: The introduction of a research summarizes the current understanding and background information of…

A: Answer:-  Research definition:- "Creative and methodical activity performed to improve the reservoir…

Q: count ROCE

A: ROCE stands for Return on Capital Employed.

Q: How is materiality concept applied?

A: Accounting principles:

Q: Do ethical standards have anything to do with culture and diversity?

A: Ethical standard The founders of the organization created a set of ethical guidelines to explain the…

Q: What does the DuPont identity tell us that ROE is affected by?

A: DuPont = Net profit margin*Asset turnover*Equity multiplierNet incomeRevenue*SalesAvg total…

Q: What is the Baumol model, and how is it used?

A: The Baumol model, also known as the Baumol-Allais-Tobin (BAT) model, is a cash management model. In…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.