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homework-assignment
E16-1: (Compensated Absences) Zero Mostel Company began
operations on January 2, 2008. It employs 9 individuals who work 8-
hour days and are paid hourly. Each employee earns 10 paid vacation
days and 6 paid sick days annually. Vacation days may be taken after
January 15 of the year following the year in which they are earned. Sick
days may be taken as soon as they are earned; unused sick days
accumulate. Additional information is as follows.
E16-12: (Basic Pension Worksheet) The following defined-benefit
pension data of Doreen Corp. apply to the year 2008.
Projected benefits obligation, January 1, 2008 (before amendment)
$ 560,000
Plan assets, January 1, 2008
546,200
Pension liability
13,800
On January 1, 2008Doreen Corp., through plan amendment, grants
prior service benefits having a present value of
100,000
Settlement rate