A9 please help..... QUESTION 10Amazine Inc. purchased Class 8 furniture for $4,000 in 2021. In 2023, this furniture was sold for $1,000. Class 8 UCC was $10,300 at the beginning of 2023 and no Class 8property was purchased during the year. What is the UCC of this class at the end of 2023?$7,440$9,300$1,860$8,240

UCC stands for Undepreciated Capital Cost. It is a tax term that represents the value of a property,…

Answered: QUESTION 10 Amazine Inc. purchased…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Accounting Question
On January 1, 2025, Blossom Company has the following defined benefit pension plan balances. Projected benefit obligation $4,454,000 Fair value of plan assets 4,140,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2026, the company amends its pension agreement so that prior service costs of $509,000 are created. Other data related to the pension plan are as follows. 2025 2026 Service cost $149,000 $177,000 Prior service cost amortization -0- 92,000 Contributions (funding) to the plan 237,000 283,000 Benefits paid 196,000 274,000 Actual return on plan assets 248,400 260,000 Expected rate of return on assets 6% 8% (a) Prepare a pension worksheet for the pension plan for 2025 and 2026. (Enter all amounts as positive.) BLOSSOM COMPANY Pension Worksheet-2025 and 2026 General Journal Entries OCI-Prior Service Cost OCI-Gain/ Pel Loss
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7. Find all four stated rate (APR)

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QUESTION 10 Amazine Inc. purchased Class 8 furniture for $4,000 in 2021. In 2023, this furniture was sold for $1,000. Class 8 UCC was $10,300 at the beginning of 2023 and no Class 8 property was purchased during the year. What is the UCC of this class at the end of 2023? $7,440 $9,300 $1,860 $8,240