The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ?

Q: Required: • Posting • Trial Balance • Statement of Financial Position

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

Q: Whener Company is currently manufacturing Part ABS-43, producing 55,000 units annually. The part is ...

A: The question asks the maximum cost to pay to outside supplier . If buy cost is less than make cost ,...

Q: Problem 2-6 Preparing the Statement of Comprehensive Income - Single-Step (Nature of Expense Method)...

A: Net income can be calculated by using the following formula or we can compute net income through com...

Q: Which one of the following statements is true?   If the activity method is in use, residual value sh...

A: Lets understand the basics. In activity based costing, depreciation is calculated based on the activ...

Q: 80. Oblation Bank loaned P9,000,000 to a borrower on January 1, 2017. The terms of the loan were pay...

A: Calculation of impairment loss, interest income , carrying amount are as follows.

Q: Current Attempt in Progress The following information relates to Blossom Limited's Cash account. The...

A: The question is based on the concept of Bank reconciliation statement. Bank reconciliation statement...

Q: Rooney Company incurred $280,000 of research and development cost in its laboratory to develop a pat...

A: A patent is the granting of a proprietary interest to an inventor by a sovereign authority. In retur...

Q: enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To record EFT co...

A: Reconciled Cash Balance on June  $     25,100 Transaction of July Month    Cash Receipts  $     ...

Q: On December 31, 2021, what amount should PO report for accrued salaries payable? *see attached a. P...

A: Accrued expense are those expenses which are incurred by the company but yet to make the payment for...

Q: Johnny Lopez Construction Company is a general contractor that specializes in custon residential hou...

A: Bid price is the estimated cost to be changed the bid price includes the estimated direct cost and t...

Q: Within the partnership, Jamestown's capital is $140,000, and Maryland's is $40,000. They share incom...

A: In case of multiple questions, we are allowed to solve only the first question. If you want other qu...

Q: The production planning team of Red Velvet Inc showed that each product requires 3 units of raw mate...

A: Raw material that would be required for fulfilling the monthly demand: = Monthly demand * raw materi...

Q: A government issues 10,000,00 of demand bonds a

A: Government Bond is a type of security which helps to the government to raise the funds for various p...

Q: Russia Company, your client, failed to record prepaid insurance expense of P 120,000 as of December ...

A: Accounting errors are mainly inadvertent errors that occur at the time of recording journal entries....

Q: Kevin Inc. issues P 10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid...

A: given that : Kevin Inc. issues P 10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. The...

Q: Problem 2-5 Preparing the Statement of Comprehensive Income - Multi-Step (Function of Expense Method...

A: An income statement is a financial report that indicates the revenue and expenses of a business. It ...

Q: Capital balances in Sheridan Co. are Lango $42,200, Oslo $31,100, and Fernetti $14,700. Fernetti has...

A: Total amount payable to Fernetti = $14, 900×2 partners = $29, 800  

Q: Inventory at the end of 2021 was overstated. What is its effect net income of year 2022? O Cannot be...

A: Inventory at the end of year 2021 means Inventory at the beginning of year 2022. Beginning Inventory...

Q: Inter Company was founded in Dec 2018. Inter Company provides sports services to customers. During m...

A: 1. Journal Entries - Journal Entries are the first stage of recording transactions that takes place ...

Q: What should businesses consider when it comes to the expense side of the BPM equation?

A: Businesses should see that the expense side is minimized or at least the benefit of BPM( (BUSINESS P...

Q: 2-a. Calculate the benefit under each alternative for disposing of the obsolete parts. 2-b. How shou...

A: Solution:- 2-a) Calculation of the benefit under each alternative for disposing of the obsolete part...

Q: A government issues 10,000,00 of demand bonds and fails to obtain an acceptable takeout agreement fr...

A: Take-out Agreement: A take-out commitment, also known as a take-out loan or a take-out agreement, pr...

Q: Zoey Bella Company has a payroll of $7,820 for a five-day workweek. Its employees are paid each Frid...

A: Salaries expense for 5 days = $7,820 Hence, Salaries expense for 4 days period = $7,820 x 4/5 = $6,2...

Q: Richport Company manufactures products that often require specification changes or modifications to ...

A:

Q: A company is considering two mutually exclusive projects. Both require an initial cash outlay of Rs....

A: Net present value (NPV) is one of the capital budgeting concepts which is widely used by the managem...

Q: YG Company has 5,000 shares of 6%, USD100 par value, noncumulative preferred stock and 20,000 shares...

A: It is pertinent to note that preference shares have hybrid characteristics of both debt and equity. ...

Q: Adjustment for Accrued Revenues At the end of the current year, $17,810 of fees have been earned but...

A: In adjusting entry for accrued revenue we should debit account receivable and credit accrued fees ac...

Q: Question Two: Read the following transactions related to Inter Company: Inter Company was founded in...

A: The T-accounts are prepared by posting the transactions to their specific account and further find t...

Q: Data concerning a recent pertod's activity in the Prep Department, the first processing department i...

A: calculation of above requirement are as follows.

Q: Duo Company manufactures two products, Uno and Dos. Contribution margin data follow. Uno Dos Unit sa...

A: The calculation is given below 

Q: According to GAAP, interest cost incurred to finance construction of an asset must be capitalized in...

A: As per US GAAP on Capitalised Interest, interest costs that are directly attributable to the acquisi...

Q: Q2. A medium size profitable corporation is considering the purchase of a $5000 truck for use by the...

A: The question is related to Capital Budgeting. The before tax rate of return is calculated with the h...

Q: Williams moved out of Los Angeles District in June 2018. Williams' account had a zero balance in Jul...

A: The answer is stated below:

Q: Donler Tax Service performed services on account for $10,200 and paid expenses totaling $5,400. What...

A: Introduction: Income statement: All revenues and expenses are shown in Income statement. It tells th...

Q: artinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and ...

A: The question is based on the concept of Cost Accounting. Fixed cost is the cost that remains the sam...

Q: Penny Manufacturing Company acquired 75 percent of Saul Corporation stock at underlying book value. ...

A: The question is based on the concept of Financial Accounting.

Q: nd is not a user of the fund but a surplus unit, what do you think is the most suitable money market...

A: In Philippines there are different type of money market fund which are available for the investment ...

Q: Balerio Corporation's relevant range of activity is 8,000 units to 12,000 units. When it produces an...

A: Formula: Product cost per unit = Direct materials + Direct labor + variable manufacturing overhead +...

Q: the cost of moving the machine to another manufacturing plant. the cost of a new attachment to the m...

A: Cost incurred subsequent to the acquisition of machine needs to be capitalised, which becomes eligib...

Q: Appendix: Completing an End-of-Period Spreadsheet Alert Security Services Co. offers security servic...

A: >Worksheet is prepared as part of accounting cycle completion process to ease out the process. ...

Q: Transcontinental Pipelines is considering a technical process that is expected to reduce annual main...

A: Annual saving (S) = $84000 Interest rate = 4.5% Effective annual rate (r) = [1+(0.045/4)]4-1        ...

Q: Problem 5 (Determination of Profitability) Toyota Auto Shop had sales of P700,000 in 20X5 and cost o...

A:   Ans. a Earning After Tax = P 75,600     Toyoto Auto Shop    SL Particulars Amount 1 Sales P...

Q: Answer the following: 1- Analyze the transactions based on the source documents provided using a tab...

A: An increase in assets and expense is recorded by debiting them respectively and any decrease is reco...

Q: Cost from preceding department Cost added by department: 10,000.00 Materials 10,908.00 Labor 3,888.0...

A:

Q: eginning of March and no beginning Inventories. The company has hwo manufacturing departments-Moldin...

A: Plantwide predetermined overhwad rate=Total overheadTotal machine hour

Q: On September 15, YG Corporation splits up its share 2-for-5 when the market value was USD65 per shar...

A: Concept of stock split up: The concept of stock split up is to indicate the effective increase of th...

Q: Preparing the Statement of Cash Flows Balance sheet information for Beckwith Products Company is pr...

A:

Q: U.S. $ EQUIVALENT CURRENCY PER U.S. $   Polish Zloty .2984             3.3516                 Euro 1...

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub...

Q: Question 1: Which of the following accounts is(are) understated by P 50,000 at th end of year 2022 a...

A: During examination of the financial statements of France Company for the year ended December 31, 202...

Q: 1)How much is the total variable operating cost at 150,000 sales volume? 2)What is the volume of pro...

A: Total Variable Cost = Quantity Sold x Variable Cost Per Unit Break Even Volume (No Profit No Loss Vo...

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.