Given the information in the footnote what is the

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19. Given the information in the footnote, what is the Interest Cost during the 2005? Show your calculations in the space below. ECON 726 Final Exam 11 of 15
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20. Given the information in the footnote, what is the amount of Benefits Paid during 2005? Show your calculations in the space below. 21. Given the information in the footnote, what is the actual pension expense for the year? Show your calculations in the space below. 22. Which one of the following is not an important determinant of the Funded Status of a defined benefit pension plan? A. The discount rate. B. The expected rate of return on plan assets. C. The expected rate of compensation increase. D. The actual rate of return on plan assets. Explain how an increase in each of the three factors that are important for a defined benefit pension affect the plan’s Funded Status in the space below. ECON 726 Final Exam 12 of 15
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Miscellaneous Accounting Questions 23.Describe the likely effect of recognizing revenue earlier than justified by GAAP on each of the following. i. Accounts Receivable ii. Inventories iii. Operating Profit iv. Shareholder Equity 24.Compare the straight-line method of depreciation with accelerated methods with respect to their impact on: i. Trend of Operating Net Income. ii. Reported return on equity. iii. Asset Turnover. iv. Deferred Tax assets or liabilities. ECON 726 Final Exam 13 of 15
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Provide a brief discussion of each of the following statements. 25. Earnings reported by firms with significant stock options plans are likely to be of lower quality than earnings reported by firms with no stock option plans. 26. Operating Efficiency and Financial Leverage ratios are likely to be misleading for firms that make significant use of Special Purpose Entities to hold and leaseback assets used in their business. ECON 726 Final Exam 14 of 15
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FOR SCRATCH WORK OR CONTINUING PREVIOUS ANSWERS. ECON 726 Final Exam 15 of 15
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