Check the beginning and ending of Ruth (copied below). Does…

Check the beginning and ending of Ruth (copied below). Does the author identify himself or herself? What dating information do we get from the beginning of the book? Beginning of Ruth: In the days when the judges ruled, there was a famine in the land, and a certain man of Bethlehem in Judah went to live in the country of Moab, he and his wife and two sons. 2The name of the man was Elimelech and the name of his wife Naomi, and the names of his two sons were Mahlon and Chilion; they were Ephrathites from Bethlehem in Judah. They went into the country of Moab and remained there.  Ending of Ruth: Now these are the descendants of Perez: Perez became the father of Hezron, Hezron of Ram, Ram of Amminadab, Amminadab of Nahshon, Nahshon of Salmon, Salmon of Boaz, Boaz of Obed, Obed of Jesse, and Jesse of David.

Company ABC reports $2,000,000 of GAAP financial reporting i…

Company ABC reports $2,000,000 of GAAP financial reporting income in 2001.  Included in their 2001 financial reporting income is revenue on installment sales of $500,000, warranty expense of $100,000 and municipal bond interest income of $200,000 (you can assume they continue to receive the municipal bond interest every year).    For tax purposes: Installment sales are taxed when collected. $300,000 was collected in 2001, and they expect to collect $100,000 in 2002, $50,000 in 2003, and $50,000 in 2004.  Warranty costs are deductible for tax purposes when repairs are made. In 2001, ABC spends $50,000 on repair costs and expects to incur $30,000 in 2002 and $20,000 in 2003. Municipal bond interest is never taxed, and you can assume that they continue to collect the same municipal bond interest for 2002, 2003, and 2004. The current tax rate is 30% and it is expected to increase to 35% for 2002 and to 40% for 2003 and beyond. How will ABC report the deferred tax asset/liability on the 2001 balance sheet ?

2007 Information: On 12/31/2006, USF had a Pension Liabilit…

2007 Information: On 12/31/2006, USF had a Pension Liability of $3,500,000, which was comprised of a $23,000,000 PBO and $19,500,000 of Plan Assets.  During 2007, USF contributed $4,000,000 to their pension plan, and paid out $5,000,000 in benefits.  They expected to earn a 10% return on their Plan Assets, but they actually earned 4%.  The actuary has told them to use a 5% settlement rate for interest for 2007, and has estimated a $3,000,000 current service cost. There was a $2,100,000 Net Loss in their AOCI account related to prior year actual returns being less than expected.  At the end of the year their actuary revises the discount rate down, resulting in a loss of $1,000,000. The average remaining service life of the current employees is 15 years. 2008 Information: On January 1, USF decides to amend its pension plan in the current year, which results in an increase in the PBO of $3,000,000 related to prior service costs.  The average remaining service of the affected employees is 5 years.  USF again expects to earn a 10% return on their Plan Assets, and they assume a 4% settlement rate for interest in 2008.  Plan Assets earn an actual return of 6%, and current service costs totaled $4,000,000.  USF contributed $4,000,000 to the plan assets, and paid $3,000,000 in benefits to plan participants. At the end of the year their actuary revises the discount rate down again, resulting in another loss of $1,500,000. The average remaining service life of the current employees is now 10 years. What is the Plan Asset balance at the end of 2008?