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Week 5 Quiz
All Questions Details given below (Please Check)
Question 1
Parker Co. amended its pension plan on January 2 of the
current year. It also granted $600,000 of unrecognized prior
service costs to its employees. The employees are all active and
expect to provide 2,000 service years in the future, with 350
service years this year. What is Parker's unrecognized prior
service cost amortization for the year?
Question 2
Note section disclosures in the financial statements for pensions
do not require inclusion of which of the following?
Question 3
For the year ended December 31, 2004, Grim Co.'s pretax
financial statement income was $200,000 and its taxable
income was $150,000. The difference is due to the following:
Grim's enacted income tax rate is 30%. In its 2004 income