The following information pertains to Havana Corporation's defined benefit pension plan:
($ in 000s) 2011 2012
Beginning Beginning

balances balances

Projected benefit obligation ($6,000) ($6,504)
Plan assets 5,760 6,336
Prior service cost--AOCI 600 552
Net loss--AOCI 720 786

At the end of 2011, Havana contributed $696 thousand to the pension fund and benefit payments of $624
thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's
discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO.

What is the 2011 pension expense for Havana's plan?

A. $678 thousand
B. $594 thousand
C. $702 thousand
D. $606 thousand

Amanufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. in the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant for $2,100,000. what should the manufacturer do?

Barry owns a 50 percent interest in b& b interests, a partnership. his brother, benny, owns a 35 percent interest in that same partnership, and the remaining 15 percent is owned by an unrelated individual. during 2016, barry sells a rental property with a basis of $60,000 to b& b interests for $100,000. the partnership intends to hold the rental as inventory for resale. what is the amount and nature of barry’s gain or loss on this transaction?

Areview of the ledger of sheridan company at december 31, 2017, produces these data pertaining to the preparation of annual adjusting entries. 1. prepaid insurance $19,661. the company has separate insurance policies on its buildings and its motor vehicles. policy b4564 on the building was purchased on july 1, 2016, for $13,290. the policy has a term of 3 years. policy a2958 on the vehicles was purchased on january 1, 2017, for $8,586. this policy has a term of 18 months. 2. unearned rent revenue $468,720. the company began subleasing office space in its new building on november 1. at december 31, the company had the following rental contracts that are paid in full for the entire term of the lease. term (in months) number of leases date monthly rent nov. 1 8 $5,450 6 dec. 1 6 $8,630 4 3. notes payable $43,200. this balance consists of a note for 6 months at an annual interest rate of 7%, dated october 1. 4. salaries and wages payable $0. there are 9 salaried employees. salaries are paid every friday for the current week. 6 employees receive a salary of $620 each per week, and 3 employees earn $755 each per week. assume december 31 is a wednesday. employees do not work weekends. all employees worked the last 3 days of december. prepare the adjusting entries at december 31,2017.