Month: March 2017

Harrison Forklift’s pension expense includes a service cost of $19 million. Harrison began the year with a pension liability of $46 million (underfunded pension plan).    1.Interest cost, $7; expected return on assets, $13; amortization of net loss, $4.2.Interest cost, $15; expected return on assets, $11; amortization of net gain, $4.3.Interest cost, $15; expected return on assets, …

Forklift's pension expense includes a ser…Read More »

Galvanized Products is considering purchasing a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $120,000. Galvanized Products is planning to borrow 1/4th of the purchase price from a bank at 18.00% compounded annually. The loan is to be repaid using equal annual payments over a 3-year …

Products is considering purchasing a ne…Read More »

Please help with the filling in of the empty boxes on the excel sheet. Thanks xo

Salt and pepa formed a partnership called hip hop associates on January 1, 2016. Salt transfers to the partnership cash of $60,000 equipment whose origins cost was $40,000 and whose accumulated depreciation is $20,000 but whose fair market value is $13,000 and $3,000 of supplies. Pepa contributes $90,000 in cash and merchandise inventory which originally …

and pepa formed a partnership called hip hop …Read More »

The following transactions were completed by The Irvine Company during the current fiscal year ended December 31:Expected net realizable value of the accounts receivable as of December 31.2. A. Journalize the transactions. For the December 31 adjusting entry, assume the $1,785,000 balance in accounts receivable reflects the adjustments made during the year. Refer to the …

following transactions were completed by The I…Read More »

.1.Compute the total prime costs for both Garcon Company and Pepper Company.2.Compute the total conversion costs for both Garcon Company and Pepper Company.

Selected comparative financial statements of Korbin Company follow1. Complete the below table to calculate each year’s current ratio.2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)3. Complete the below table to calculate the balance sheet data in trend percents with 2014 as the …

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Using effective interest amortization, complete the following bond amortization table (a-g). The bond was issued at $192,000 on January 1 and has a face value of $200,000, contract interest rate of 9%, and interest is paid semi-annually on 6/30 and 12/31 for 20 years. The market interest rate is 10%g) 192,600based on the amortization table, …

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Let’s say we work for a company that makes snowmobiles and our factory is split and organized into five different departments. Each of these departments sequentially assembles a modular portion of each snowmobile before transferring it out to the next department. The subsequent department transfers in the partially completed unit, does its part of the …

say we work for a company that makes snowm…Read More »

Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2015, were inventory, $49,900; total assets, $219,400; common stock, $82,000; and retained earnings, $39,468.)* These are short-term notes receivable arising from customer (trade) sales.Compute the following: (1) current ratio, (2) acid-test ratio, (3) days’ sales …

year-end financial statements of Cabot Co…Read More »