Not one person has gotten this correct so far - please just give the CORRECT answers to this ASAP! I will give thumbs up for correct numbers. Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not maderetroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. Theactual return was also 10% in 2021 and 2022.* A consulting firm, engaged as actuary, recommends 5% as the appropriate discountrate. The service cost is $300,000 for 2021 and $390,000 for 2022. Year-end funding is $310,000 for 2021 and $320,000 for 2022.No assumptions or estimates were revised during 2021.* We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since theestimate didn't change, that also was the actual rate in 2022.Required:Calculate each of the following amounts as of both December 31, 2021, and December 31, 2022: (Enter your answers in thousands(i.e., 200,000 should be entered as 200).)X Answer is complete but not entirely correct.December 31,20211. Projected benefit obligation2.3.4.Plan assetsPension expenseNet pension asset or net pension liability$$$$0X $0X $300,000 $10,000 X $December 31,2022705,000 X661,000 X674,000 X44,000 X

Stanley-Morgan Industries 1. Calculation of projected benifits obligation as fallows below manner:…

tanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not made etroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The ctual return was also 10% in 2021 and 2022.* A consulting firm, engaged as actuary, recommends 5% as the appropriate discount ate. The service cost is $300,000 for 2021 and $390,000 for 2022. Year-end funding is $310,000 for 2021 and $320,000 for 2022. lo assumptions or estimates were revised during 2021. We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the stimate didn't change, that also was the actual rate in 2022. equired: alculate each of the following amounts as of both December 31, 2021, and December 31, 2022: (Enter your answers in thousands .e., 200,000 should be entered as 200).) 1. 2. 3. 4. Answer is complete but not entirely correct. December 31, 2021 Projected benefit obligation Plan assets Pension expense Net pension asset or net pension liability $ $ $ $ December 31, 2022 0X $ 0X $ $ 10,000 $ 300,000 705,000 X 661,000 X 674,000 X 44,000 X

tanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not made etroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The ctual return was also 10% in 2021 and 2022.* A consulting firm, engaged as actuary, recommends 5% as the appropriate discount ate. The service cost is $300,000 for 2021 and $390,000 for 2022. Year-end funding is $310,000 for 2021 and $320,000 for 2022. lo assumptions or estimates were revised during 2021. We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the stimate didn't change, that also was the actual rate in 2022. equired: alculate each of the following amounts as of both December 31, 2021, and December 31, 2022: (Enter your answers in thousands .e., 200,000 should be entered as 200).) 1. 2. 3. 4. Answer is complete but not entirely correct. December 31, 2021 Projected benefit obligation Plan assets Pension expense Net pension asset or net pension liability $ $ $ $ December 31, 2022 0X $ 0X $ $ 10,000 $ 300,000 705,000 X 661,000 X 674,000 X 44,000 X

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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Sorry, to bother you but I am not sure where you came up with these numbers. They don't seem to be the same numbers in the question. I guess I am just really confused. Thank you for your help.
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How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
arrow_forward Oh no! Our expert couldn't answer your question. Don't worry! We won't leave you hanging. Plus, we're giving you back one question for the inconvenience. Here's what the expert had to say: Hi and thanks for your question! Unfortunately we cannot answer this particular question due to its complexity. We've credited a question back to your account. Apologies for the inconvenience. Ask Your Question Again 5 of 10 questions left until 5/23/21 Question The management accountant at Miller Merchandising & More, Odail Russell is in the process ofpreparing the cash budget for the business for the fourth quarter of 2021. It is customary for thebusiness to borrow money during this quarter. Extracts from the sales and purchases budgets areas follows:Month cash sales sales on account purchasesAugust $85,000 $640,000 $420,000September $70,000 $550,000…
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Please send me answer as soon as possible
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Oh no! Our expert couldn't answer your question. Don't worry! We won't leave you hanging. Plus, we're giving you back one question for the inconvenience. Here's what the expert had to say: Hi and thanks for your question! It looks like you're asking for help with using the site. You can reach our support team at the Contact Bartleby link at the bottom of the page. We've credited a question back to your account. Apologies for the inconvenience. Ask Your Question Again 13 of 30 questions left until Nov 14, 2021 Question complete a horizontal analysis for brown company. (negative answers should be indicated by a minus sign. leave no cells blank - be certain to enter "0" wherever required. round the "percent" answers to the nearest hundredth percent.) Current assets: 2020 2019 Increase (decrease) amount? Percent? Cash $14,150 $9,300 ?? Accounts receivable 16,950 12,800 ?? Merchandise inventory 18,050 21,450 ?? Prepaid advertising 52,600…
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