Outline how finance leases are recorded and accounted for, including the impacts on the statement of financial position and statement of income.
Answer to relevant QuestionsDifferentiate between defined contribution pension plans and defend benefit pension plans. Identify and explain some of the reasons why defined benefit pension plans create accounting challenges for companies that offer them. Explain the difference between financial and non-financial covenants. A company takes out a four-year, $800,000 mortgage on May 1. The interest rate on the loan is 5% per year, and blended payments of $18,423 (including both interest and principal) are to be made at the end of each month. The ...a. Describe the three main types of pension plans. b. As a manager, which type of plan would you recommend to the company’s senior executives? Explain. c. As an employee, which plan would you prefer? Explain.
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