With a lease commencement date of January 1, 2019, Emgrand Company leases equipment with a fair value of $625,000 to Bolero Company under the following terms:  Lease term   3 years Annual rental payable at beginning of each year   $200,000 Useful life of equipment   5 years Implicit interest rate in lease (known by Bolero)   8 %  Emgrand routinely leases equipment of this nature. Bolero has no other leased equipment. Neither entity considers the 3-year term to be a major part of the asset’s 5-year life. Nor do they consider the present value of the lease payments to be substantially all of the fair value of the asset. Considering only the above information, what amount of total lease-related expense should Bolero report in its December 31, 2019 Income Statement?

Ryan Company maintains a defined benefit pension plan for its employees. For the fiscal year ended December 31 of the current year, it reported a pension liability. This liability is the amount by which the

Kine Company has a defined benefit pension plan. In 2021, it paid $250,000 to its retirees. Which of the following entries is correct to record the payment.

Accounting for postretirement health care benefits is similar, in most respects, to accounting for:

The portion of the obligation that plan participants are entitled to actually receive regardless of their continued employment is called the:

On January 1, 2021, Doug Corporation leased equipment to Melissa Company. The lease term is 11 years. The first payment of $714,000 was made on January 1, 2021. The equipment cost Doug Corporation $4,926,173. The present value of the lease payments is $5,296,208. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 9%, how much interest revenue will Doug record in 2022 on this lease? (Round your answer to the nearest whole dollar amount.)

The costs that (a) are associated directly with consummating a lease, (b) are essential to acquire the lease, and (c) would not have been incurred had the lease agreement not occurred, are referred to as initial direct costs. Initial direct costs incurred by the lessor are deferred and expensed over the lease term:

Assume that at the beginning of the current year, a company has a net gain–AOCI of $26,900,000. At the same time, assume the PBO and the plan assets are $223,900,000 and $155,800,000, respectively. The average remaining service period for the employees expected to receive benefits is 10 years. What is the amount of amortization to pension expense for the year?  

The employer has no obligation to provide future benefits for:

At December 31, 2018, Shawn, Inc. reported in its balance sheet a net loss of $3 million related to its pension plan. At the end of 2018, the actuary for Shawn increased her estimate of future salary levels to estimate the PBO. Shawn’s entry to record the effect of this change will include: