Help Save & Amortizing prior service cost for pension plans will: Multiple Choice Increase retained earnings and decrease accumulated other comprehensive income. Decrease retained earnings and decrease accumulated other comprehensive income. Increase retained earnings and increase accumulated other comprehensive income. Decrease retained earnings and increase accumulated other comprehensive income.

Indicate by letter whether each of the events listed below increase (l), decreases (D), or has no effect (N) on an employer’s projected benefit obligation.                                                                               Events Interest cost.                                                                                                                  ________ Amortization of prior service cost.                                                                                 ________ A decrease in the average life expectancy of employees.                                             ________ An increase in the average life expectancy of employees.                                         ________ A plan amendment that increases benefits is made retroactive to prior years.             ________ An increase in the actuary’s assumed discount rate.                                                     ________ Cash contributions to the pension fund by the employer.…

In a defined benefits retirement plan, the employer bears the investment risks in funding a future retirement income benefit.   ____   12.   The cost of replacing an engine in a truck is an example of ordinary maintenance that should be expensed instead of capitalized.   ____   13.   For proper matching of revenues and expenses, the estimated cost of fringe benefits must be recognized as an expense of the period during which the employee earns the benefits.   ____   14.   Medicare taxes are paid by both the employee and the employer.   ____   15.   Costs associated with normal research and development activities should be treated as  intangible assets. True and false questions....

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