Prior service cost is amortized on a straight-line basis over the average remaining service life of active employees or 15 years, whichever is longer. years-of-service method or on a straight-line basis over the average remaining service life of active employees. straight-line basis over 15 years. straight-line basis over the expected future years of service.

Answer:

years-of-service method or on a straight-line basis over the average remaining service life of active employees

Explanation:

Prior service cost (PSC) is simply defined is an instant hike or increase in PBO that is gotten or as a result of the retroactive application of hike or an increase in profits or benefits for service already given(rendered) the name "prior" service cost is given to it as a result of the service cost of previous years which was increased. An example, a defined benefit pension plan provides benefits equal to 4% of last salary for each year of service rendered. The plan is later worked on to increase the rate 4.23% and

the working on or amendment is is said to be retroactive. The present value of the increased benefits (.23%) earned prior to the adjustment or amendment is PSC. Sometimes, retroactive grant may lower the benefits for service already rendered. Amortization is an accounting technique. It is often used to constantly in a timely or periodic manner to reduce or lower the book value of a loan or intangible asset over a time period that is always set.

The amount to be amortized is gotten by giving equal amount of expense to each future period of service always for employee each and those who is mandated to receive benefits.

The general manager has asked you to develop a block out period for the October Annual Homecoming Weekend event at the Times hotel. There is a definite possibility of 100% occupancy, but the general manager is concerned that several of the alumni will dine off premises. He wooed like a package rate that includes a kickoff breakfast and a dinner after the game. How will you proceed?

Coronado, Inc. has 3500 shares of 4%, $50 par value, cumulative preferred stock and 70000 shares of $1 par value common stock outstanding at December 31, 2019. The board of directors declared and paid a $2700 dividend in 2019. In 2020, $18900 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2020

what is international employment
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Communicating Negative News EffectivelyAt some point, everyone will have to deliver bad news. The bad feelings associated with this type of message can be alleviated if the receiver knows the reason for the bad news, feels the news is revealed sensitively, thinks the matter is treated seriously, and believes that the decision is fair. When applying these strategies, make sure to follow the writing process and determine whether to use a direct or an indirect pattern in your message. Read the following scenario:Your company started using shipping company two months ago. During your short relationship with a new the company, you notice that it regularly inflates its shipping rates, fails to meet scheduled deliveries, and loses packages. You decide to write a letter to them ending the business relationship. 1. What are your goals when responding to the previous scenario? A. To encourage follow-up correspondence from the receiver. B. To ensure that the company knows you are angry.C. To convey fairness.D. To avoid creating legal liability for your company.E. To make the receiver understand the bad news.2. Staying calm and using polite language while offering a clear explanation of why the negative message was necessary helps the sender to:___.A. Limit legal liability.B. Be firm in their decision.C. Project a professional image.D. Avoid apologizing.

Fabert Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 16,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs. An additional 60,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 65,000 units were completed in the Assembly Department and transferred to the next processing department. There were 11,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month

Maxwell Corp. is coming to the market with a new offering of 450,000 shares of stock at $22 to the public. Maxwell will receive $19 per share. The firm has one million shares outstanding and earnings of $6 million before recording the new issue. What is the amount of dilution in earnings per share

Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory December 31, prior year), 2,000 units at $38; purchases, 8,000 units at $40; expenses (excluding income taxes), $194,500; ending inventory per physical count at December 31, current year, 1,800 units; sales, 8,200 units; sales price per unit, $75; and average income tax rate, 30 percent.

Required:
Compute cost of goods sold and prepare income statements under the FIFO, LIFO.

On January 1, 2020, Sunland Company purchased 8% bonds having a maturity value of $280,000, for $303,589.66. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Sunland Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.

Required:
Prepare the journal entry at the date of the bond purchase.

Vandelay Company produces and sells 15,000 units of Product X1 each month. The selling price of Product X1 is $20 per unit, and variable expenses are $14 per unit. A study has been made concerning whether Product X1 should be discontinued. The study shows that $70,000 of the $100,000 in fixed expenses charged to Product X1 would remain even if the product was discontinued. These data indicate that if Product A is discontinued, the company's overall net operating income would: _________

a. decrease by $60,000 per month
b. increase by $10,000 per month
c. increase by $20,000 per month
d. decrease by $20,000 per month

Bramble Corp. reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw materials inventory 300000 Ending work in process inventory 900000 Ending raw materials inventory 480000 Raw materials purchased 960000 Direct labor 910000 Manufacturing overhead 730000 Bramble Corp.'s cost of goods manufactured for the year is

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Sales price per unit:(current monthly sales volume is 120,000 units). . . . $25.00
Variable costs per unit:
Direct materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6.60
Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7.00
Variable manufacturing overhead. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.40
Variable selling and administrative expenses. . . . . . . . . . . . . . . . . . . . . . . . . $1.90
Monthly fixed expenses:
Fixed manufacturing overhead. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $241,900
Fixed selling and administrative expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . $327,900

Required:
a. What is the company's contribution margin per unit?
b. What would the company's monthly operating income be if the company sold 150,000 units?
c. What is the company's current operating leverage factor (round to two decimals)?

Transacion Transaction Amount
number (Year 2017)
1 Interest paid by a Country B’s corporation on a
bond owned by a Country A’s bank $1’000
2 Interest paid by Country A’s government on a treasury
bills owned by Country C’s government $2’000
3 Country A imports of coffee from Country B $3’000
4 Country A’s citizen donation to a Non-Governmental-
Organization located in Country A $4’000
5 Country A’s sale of Country C’s government bonds $5’000
6 Country B’s export of raw materials to Country C $6’000
Which transactions belong to Country A's current accounts?
a. 3,4, and 5.
b. 3 and 5.
c. 1,2, 3, 4, 5.
d. 1,2,3.

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000.The journal entry to record the flow of costs from Department 1 into Department 2 during the period is:_________.
a. Work in Process--Department 2 390,000 Work in Process--Department 1 390,000
b. Work in Process--Department 2 255,000 Work in Process--Department 1 255,000
c. Work in Process--Department 2 375,000 Work in Process--Department 1 375,000
d. Work in Process--Department 2 330,000 Work in Process--Department 1 330,000

The following present value factors are provided for use in this problem. Periods Present Value of $1 at 8% Present Value of an Annuity of $1 at 8% 1 0.9259 0.9259 2 0.8573 1.7833 3 0.7938 2.5771 4 0.7350 3.3121 Cliff Co. wants to purchase a machine for $40,000, but needs to earn a return of 8%. The expected year-end net cash flows are $12,000 in each of the first three years, and $16,000 in the fourth year. What is the machine's net present value

This information is available for Pronghorn Inc. for the current year.
Beginning inventory $10,620
Ending inventory 13,430
Cost of goods sold 84,175
Sales 146,100
Calculate the inventory turnover, days in inventory, and gross profit rate for Pronghorn Inc. for the current year. (Round gross profit rate to 2 decimal places, e.g. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.)
Inventory turnover enter inventory turnover in times times
Days in inventory enter days in inventory days
Gross profit rate enter days in inventory

The following information relates to Moran Co. for the year ended December 31, 2020: net income $1,245.7 million; unrealized holding loss of $10.9 million related to available-for-sale debt securities during the year; accumulated other comprehensive income of $57.2 million on December 31, 2019. Assuming no other changes in accumulated other comprehensive income. Determine (a) other comprehensive income for 2017, (b) comprehensive income for 2017, and (c) accumulated other comprehensive income at December 31, 2017.

Petty Cash Fund Entries Journalize the entries to record the following: Check is issued to establish a petty cash fund of $1,200. The amount of cash in the petty cash fund is now $396. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $466; miscellaneous selling expense, $193; miscellaneous administrative expense, $121. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,200, record the discrepancy in the cash short and over account.) a. Journalize the entry to establish the petty cash fund. fill in the blank a41770059faa020_2 fill in the blank a41770059faa020_4 b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank. fill in the blank e53a56fc003ffc3_2 fill in the blank e53a56fc003ffc3_3 fill in the blank e53a56fc003ffc3_5 fill in the blank e53a56fc003ffc3_6 fill in the blank e53a56fc003ffc3_8 fill in the blank e53a56fc003ffc3_9 fill in the blank e53a56fc003ffc3_11 fill in the blank e53a56fc003ffc3_12 fill in the blank e53a56fc003ffc3_14 fill in the blank e53a56fc003ffc3_15 Check My Work

Village Delivery Company purchased a lot to construct a new warehouse for $300,000, paying $28,000 in cash and giving a short-term note for the remainder. Legal fees paid in connection with the purchase were $2,475, delinquent taxes assumed were $10,400, and fees paid to remove an old building from the land were $20,400. Materials salvaged from the demolition of the building were sold for $4,900. A contractor was paid $997,100 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.

Sun Corporation received a charter that authorized the issuance of 86,000 shares of $6 par common stock and 19,000 shares of $75 par, 7 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:
2018
Jan. 5 Sold 12,900 shares of the $6 par common stock for $8 per share.
12 Sold 1,900 shares of the 7 percent preferred stock for $85 per share.
Apr. 5 Sold 17,200 shares of the $6 par common stock for $10 per share.
Dec. 31 During the year, earned $303,500 in cash revenue and paid $241,400 for cash operating expenses.
31 Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019.
31 Closed the revenue, expense, and dividend accounts to the retained earnings account.
2019
Feb. 15 Paid the cash dividend declared on December 31, 2017.
Mar. 3 Sold 2,850 shares of the $75 par preferred stock for $95 per share.
May 5 Purchased 550 shares of the common stock as treasury stock at $6 per share.
Dec. 31 During the year, earned $254,200 in cash revenues and paid $171,000 for cash operating expenses.
31 Declared the annual dividend on the preferred stock and a 0.50 per share dividend on the common stock.
31 Closed revenue, expense, and dividend accounts to the retained earnings account. Sold 14,400 shares of the $3 par common stock for $5 per share.
Record the entries in the General Journal of Sun Corporation. Note: Enter debits before credits.

Stephanle is planning to buy a house and can choose between a traditional mortgage at 5% Interest or an adjustable-rate mortgage (ARM) at
4.5% Interest. What factor would make the ARM less attractive to Stephanie?
Select the best answer from the choices provided.
ОА. Interest rates are dropping and are expected to continue to fall.
ОВ.
Home values are rising and are expected to continue to rise.
OC. Stephanie expects to receive a promotion within a year.
OD. Stephanie could not afford the payment if the interest rate rose to 5.5%.

Sarratt Corporation's contribution margin ratio is 70% and its fixed monthly expenses are $38,000. Assume that the company's sales for May are expected to be $97,000. Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change.

Rush Corp. has outstanding accounts receivable totaling $500,000 as of December 31 and sales during the year of $250,000. There is also a debit balance of $20,000 in the allowance for uncollectible accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense

This year Lloyd, a single taxpayer, estimates that his tax liability will be $11,350. Last year, his total tax liability was $15,900. He estimates that his tax withholding from his employer will be $8,655. Problem 8-77 Part-a (Algo) a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty

Ursula, a conventional advertising manager, allocates a sizeable amount of funds toward advertising budgets. She is primarily concerned with the sales figures at the end of every quarter and calculates return on investment for her company's product portfolio. Based on these characteristics, which of the following approaches to advertising does Ursula follow?
a. The marketing management approach
b. The generalist viewpoint
c. The specialist viewpoint
d. The consumer attrition perspective

ProForm sold ClipRite inventory costing $77,000 during the last six months of 2017 for $170,000. At year-end, 30 percent remained. ProForm sells ClipRite inventory costing $240,000 during 2018 for $330,000. At year-end, 10 percent is left. Determine the consolidated balances for the following accounts:

Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below.

Activity Cost Activity Base
Procurement $327,100 Number of purchase orders
Scheduling 241,400 Number of production orders
Materials handling 445,200 Number of moves
Product development 703,500 Number of engineering changes
Production 1,537,100 Machine hours

Number of Purchase Orders Number of Production Orders Number of Moves Number of Engineering Changes Machine Hours Number of Units
Disk drives 4,160 360 1,200 10 1,700 2,000
Tape drives 1,700 125 790 6 9,800 3,500
Wire drives 12,500 810 3,800 20 10,400 2,500

The activity rate for the materials handling cost pool is:_________

a. $188.19 per move
b. $76.22 per move
c. $17.5 per move
d. $65.74 per move

In 2020, Ava, an employee, who files single, has AGI of $35,400 and incurred the following miscellaneous itemized deductions this year: Union dues and work uniforms: $360 Home office expenses: $1,080 Unreimbursed employee expenses: $504 Gambling losses to the extent of gambling winnings: $1,300. What is Ava's total itemized deduction related to these items

Pharma Company produces various medicines in capsule form. At the beginning of the month of March, it had 5,000 units that were 40% complete. These were assigned costs of $150,000. During the month, it completed 55,000 units and has 20,000 units that are 50% completed. It had production costs during the month of $600,000. Complete all five steps of a production report using the weighted average method. Complete all five steps of a production report using the FIFO method.

Concord Corp. enters into a contract with a customer to build an apartment building for $921,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $156,000 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $52,000 each week that completion is delayed. Concord commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2021 70 % August 8, 2021 20 August 15, 2021 6 After August 15, 2021 4 Determine the transaction price for this contract.