Pension expense : Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees. Pension expense includes the following components: Service cost Interest cost Expected return on plan assets Amortization of prior service cost Amortization of net loss or net gain Journal entry : Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically. Debit and credit rules: Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts. Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts. To journalize : H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

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I want to correct answer general accounting question

Answer 1

Question

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

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the estimated total fixed cost is:

Stone Company is facing several decisions regarding investing and financing activities. Address each decision independently. On June 30, 2024, the Stone Company purchased equipment from Paper Corporation. Stone agreed to pay $28,000 on the purchase date and the balance in five annual installments of $5,000 on each June 30 beginning June 30, 2025. Assuming that an interest rate of 10% properly reflects the time value of money in this situation, at what amount should Stone value the equipment? Stone needs to accumulate sufficient funds to pay a $580,000 debt that comes due on December 31, 2029. The company will accumulate the funds by making five equal annual deposits to an account paying 5% interest compounded annually. Determine the required annual deposit if the first deposit is made on December 31, 2024. On January 1, 2024, Stone leased an office building. Terms of the lease require Stone to make 10 annual lease payments of $138,000 beginning on January 1, 2024. A 10% interest rate…

Answer 2

Question

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

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Answer 3

Question

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

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Answer 4

Question

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

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Answer 5

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

Answer 6

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

Answer 7

Chapter 17, Problem 17.4E

(1)

To determine

Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.

Pension expense includes the following components:

Service cost

Interest cost

Expected return on plan assets

Amortization of prior service cost

Amortization of net loss or net gain

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net loss is $2,000,000.

Answer 8

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

Answer 9

(2)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

Answer 10

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

Answer 11

(3)

To determine

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

Answer 12

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Ch. 17 - Prob. 17.1Q Ch. 17 - Prob. 17.2Q Ch. 17 - Prob. 17.3Q Ch. 17 - What is the vested benefit obligation?Ch. 17 - Prob. 17.5Q Ch. 17 - Prob. 17.6Q Ch. 17 - Name three events that might change the balance of...Ch. 17 - Prob. 17.8Q Ch. 17 - Prob. 17.9Q Ch. 17 - Prob. 17.10Q

Concept explainers

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000

To journalize: H’s pension expense, if service cost is $10,000,000, interest cost is $6,000,000, expected return on assets is $4,000,000, and amortization of net gain is $2,000,000.

Chapter 17 Solutions