Question 25 1 points) Which of the following amounts from the pension worksheet are included in the footnotes but NOT recognized on the financial statements? (1023) C Net Pension Cost on the Income Statement C Expected Returns on Plan Assets on the Income Statement Accumulated OCI. Actuarial Gains Losses on the Balance Sheet AU.of these amounts appear on the financial statements 5 points Question 26 1 points) Which of the following pension accounts are recognized on the financial statements? (10 23) C C Pension Assets Projected Benefit Obligation Accumulated OCI - Actuarial Gains Losses None of these are recorded on the financial statements 5 points Question 27 1. 5 points) On January 1, 2019, OHN, Inc. signed a year lease. OHN, Inc. will make payments of $78,375 each year on January 1st, with the first payment made on the day the lease was signed. If the lease payments had antal present value of $375,478 and OHN, Inc.'s incremental interest rate is 10%, how much interest expense will the company recognize on its 2020 income statement from this finance lease? (10 20 & 22) "$37,548 "529,710" "524,844" "$21,873" Question 28 1. (5 points) NYC Co. leased an asset for 4 years with payments of $287,500 due at the ending of each year. If their incremental borrowing rate is 10% and the lessor's rate (which is known by NYC Co.) was 8%, what should NYC Co. record as its lease liability? The PV factor for 8% is 3.31213 for a regular i ty and 3.57710 for an annuity due. The PV factor for 10% is 3.16986 for a regular anmity and 3.48685 for an annuity doe CO 20) $1,028,416 $1,002,469 C C $911,335 points Question 29 A l . Na "5 points) Bells, Inc. leased equipment to JBC Co. on Jan 1, 2020, for 10 years. Equal annual payments of $245,375 are due on Tamary of each year, with the first payment made this year. The interest rate on the lease is 9 The sales price of the equipment is usually $1,558,000 and it cost Bells, Inc. $1,246,000. If Bells, Inc. clarified the lease 23 sales-type, how much sales and interest revenue can the company report in 20207 10 209 "SO in sales revenue and $118,136 in interest revenue." "SO in sales revenue and $245,375 in interest revenue "$312,000 in sales revenue and $118,136 in interest revenue." "$312,000 in sales revenue and $140,220 in interest revenue 5 points Question 30 (5 points) On January 1, 2020, GGS Corp. signed a 10 year lease on an asset with a 15 year economic life. The lease doesn't transfer ownership or have a BPO. If the lease payments had an initial present value of $1,637,381 and GGS Corp's incremental interest rate is 7%, how much amortization expense will the company recognise on its 2020 income statement from this finance lease? (10 20 & 22) OO "$217,875" "$163,738" "$109,159 50 Question 24 1. (3 points) When must a company amortize the beginning balance in its Accumulated Other Comprehensive Income - Actuarial Gain/Loss account? (IO 15) Only when its balance is more than 10% of the larger of beginning PBO or Pension Assets C Any time the actuary reports a change in statistical estimates or equations Only in the year they change their existing contract with employees Any time there is a balance in the account 5 points Question 25 (3 points) Which of the following amounts from the pension worksheet are included in the footnotes but NOT recognized on the financial statements? (IO 23) Net Pension Cost on the Income Statement Expected Returns on Plan Assets on the Income Statement Accumulated OCI - Actuarial Gains/Losses on the Balance Sheet AU.af these amounts appear on the financial statements I O 5 points Question 27 (5 points) On January 1, 2019, OHN, Inc. signed a year lease. OHN, Inc. will make payments of 373,375 each you on January 1st, with the first payment made on the day the lease was . If the p a st present value of $375,478 and OHN, Inc.'s incremental interest rate is 10% how much interes se company recognize on its 2020 income statement from this finance lease? (10 20 & 22y "$37,548" "$29,710" cccc "$24,844" $21,873" 5 points Question 28 (5 points) NYC Co. leased an asset for 4 years with payments of $287,300 due at the ending of each year. If the incremental borrowing rate is 10% and the lessor's rate (which is known by NYC Co.) was what should NYC CO record as its lease liability? The PV factor for 8% is 3.31213 for a regular annuity and 3.57710 for an aonaty do The PV factor for 10% is 3.16986 for a regular annuity and 3.48685 for an annuity due. (1020) $1,028,416 $1,002,469 $952,237 5911,335 Question 25 1 points) Which of the following amounts from the pension worksheet are included in the footnotes but NOT recognized on the financial statements? (1023) C Net Pension Cost on the Income Statement C Expected Returns on Plan Assets on the Income Statement Accumulated OCI. Actuarial Gains Losses on the Balance Sheet AU.of these amounts appear on the financial statements 5 points Question 26 1 points) Which of the following pension accounts are recognized on the financial statements? (10 23) C C Pension Assets Projected Benefit Obligation Accumulated OCI - Actuarial Gains Losses None of these are recorded on the financial statements 5 points Question 27 1. 5 points) On January 1, 2019, OHN, Inc. signed a year lease. OHN, Inc. will make payments of $78,375 each year on January 1st, with the first payment made on the day the lease was signed. If the lease payments had antal present value of $375,478 and OHN, Inc.'s incremental interest rate is 10%, how much interest expense will the company recognize on its 2020 income statement from this finance lease? (10 20 & 22) "$37,548 "529,710" "524,844" "$21,873" Question 28 1. (5 points) NYC Co. leased an asset for 4 years with payments of $287,500 due at the ending of each year. If their incremental borrowing rate is 10% and the lessor's rate (which is known by NYC Co.) was 8%, what should NYC Co. record as its lease liability? The PV factor for 8% is 3.31213 for a regular i ty and 3.57710 for an annuity due. The PV factor for 10% is 3.16986 for a regular anmity and 3.48685 for an annuity doe CO 20) $1,028,416 $1,002,469 C C $911,335 points Question 29 A l . Na "5 points) Bells, Inc. leased equipment to JBC Co. on Jan 1, 2020, for 10 years. Equal annual payments of $245,375 are due on Tamary of each year, with the first payment made this year. The interest rate on the lease is 9 The sales price of the equipment is usually $1,558,000 and it cost Bells, Inc. $1,246,000. If Bells, Inc. clarified the lease 23 sales-type, how much sales and interest revenue can the company report in 20207 10 209 "SO in sales revenue and $118,136 in interest revenue." "SO in sales revenue and $245,375 in interest revenue "$312,000 in sales revenue and $118,136 in interest revenue." "$312,000 in sales revenue and $140,220 in interest revenue 5 points Question 30 (5 points) On January 1, 2020, GGS Corp. signed a 10 year lease on an asset with a 15 year economic life. The lease doesn't transfer ownership or have a BPO. If the lease payments had an initial present value of $1,637,381 and GGS Corp's incremental interest rate is 7%, how much amortization expense will the company recognise on its 2020 income statement from this finance lease? (10 20 & 22) OO "$217,875" "$163,738" "$109,159 50 Question 24 1. (3 points) When must a company amortize the beginning balance in its Accumulated Other Comprehensive Income - Actuarial Gain/Loss account? (IO 15) Only when its balance is more than 10% of the larger of beginning PBO or Pension Assets C Any time the actuary reports a change in statistical estimates or equations Only in the year they change their existing contract with employees Any time there is a balance in the account 5 points Question 25 (3 points) Which of the following amounts from the pension worksheet are included in the footnotes but NOT recognized on the financial statements? (IO 23) Net Pension Cost on the Income Statement Expected Returns on Plan Assets on the Income Statement Accumulated OCI - Actuarial Gains/Losses on the Balance Sheet AU.af these amounts appear on the financial statements I O 5 points Question 27 (5 points) On January 1, 2019, OHN, Inc. signed a year lease. OHN, Inc. will make payments of 373,375 each you on January 1st, with the first payment made on the day the lease was . If the p a st present value of $375,478 and OHN, Inc.'s incremental interest rate is 10% how much interes se company recognize on its 2020 income statement from this finance lease? (10 20 & 22y "$37,548" "$29,710" cccc "$24,844" $21,873" 5 points Question 28 (5 points) NYC Co. leased an asset for 4 years with payments of $287,300 due at the ending of each year. If the incremental borrowing rate is 10% and the lessor's rate (which is known by NYC Co.) was what should NYC CO record as its lease liability? The PV factor for 8% is 3.31213 for a regular annuity and 3.57710 for an aonaty do The PV factor for 10% is 3.16986 for a regular annuity and 3.48685 for an annuity due. (1020) $1,028,416 $1,002,469 $952,237 5911,335