The following data relate to Voltaire Company’s defined benefit pension plan: ($ in millions) Plan assets...
The following data relate to Voltaire Company’s defined benefit
pension plan:
| ($ in millions) | |||
| Plan assets at fair value, January 1 | $ | 730 | |
| Expected return on plan assets | 73 | ||
| Actual return on plan assets | 58 | ||
| Contributions to the pension fund (end of year) | 126 | ||
| Amortization of net loss | 14 | ||
| Pension benefits paid (end of year) | 18 | ||
| Pension expense | 98 | ||
Required:
Determine the amount of pension plan assets at fair value on
December 31. (Enter your answers in millions. Amounts to be
deducted should be indicated with a minus sign.)
|
|||||||||||||||
Homework Answers
Add Answer to:
The following data relate to Voltaire Company’s defined benefit
pension plan:
($ in millions)
Plan assets...
Preparing a Pension Work Sheet The following data relate to the defined benefit pension plan of...
Preparing a Pension Work Sheet The following data relate to the defined benefit pension plan of Haan Company Balances at January 1. 2013: PBO $3.500 Prior service cost C $150 Fair value of pension assets $3.000 ABO $2,800 Expected return on plan assets 7% Obligation discount rate 10% Activity for 2013 Service cost $400 Benefit payments to retirees 170 Contributions to pension fund 230 Actual return on plan assets 130 Prior service cost amortization 40 rt Draw Design Layout References...
Information regarding the defined benefit pension plan of Duncan Services included Plan assets, January 1 126,772...
Information regarding the defined benefit pension plan of Duncan Services included Plan assets, January 1 126,772 Plan assets, December 31 233,015 Retiree benefits paid (end of year) 28,383 Employer contributions to the pension plan 109,610 (end of year) What was the actual return on plan assets for 2016?
Coronado Company sponsors a defined benefit pension plan for its employees. The following data relate to...
Coronado Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2020 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $56,100. Minimize global navigation res a contribution to the pension trustee amounting to $136,572 for 2020. 3. As of January 1, 2020, the company had a projected benefit obligation of $903,400,...
Coronado Company sponsors a defined benefit pension plan for its employees. The following data relate to...
Coronado Company sponsors a defined benefit pension plan for its
employees. The following data relate to the operation of the plan
for the year 2020 in which no benefits were paid. 1. The actuarial
present value of future benefits earned by employees for services
rendered in 2020 amounted to $56,100. 2. The company’s funding
policy requires a contribution to the pension trustee amounting to
$136,572 for 2020. 3. As of January 1, 2020, the company had a
projected benefit obligation...
The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2018: ($...
The following pension-related data pertain to Metro Recreation's
noncontributory, defined benefit pension plan for 2018: ($ in
000s)
Jan. 1 Dec. 31
Projected benefit obligation $ 4,400 $ 4,680
Accumulated benefit obligation 3,730 3,980
Plan assets (fair value) 4,980 5,425
Interest (discount) rate, 6%
Expected return on plan assets, 10%
Prior service cost−AOCI (from Dec. 31, 2017, amendment) 870
Net loss−AOCI 518
Average remaining service life: 10 years
Gain due to changes in actuarial assumptions 44
Contributions to pension fund...
Exercise 20-13 Wildhorse Company sponsors a defined benefit pension plan. The corporation's actuary provides the following...
Exercise 20-13 Wildhorse Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,560 2,010 2,260 1,540 Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for the year 2017 Contributions (funding in 2017) Benefits paid in 2017 December 31, 2017 $2,010 2,820 3,630 2,560 10 % 720 400 730 200 (a) Compute the actual...
Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018, Lacy received the...
Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018, Lacy received the following information: Projected Benefit Obligation ($ in millions) Balance, January 1 700 Service cost 94 Prior service cost 46 Interest cost(5.0%) 35 Benefits paid (88) Balance, December 31 787 Plan Assets ($ in millions) Balance, January 1 570 Actual return on plan assets 58 Contributions 2018 94 Benefits paid (88) Balance, December 31 634 Required: 1. Determine Lacy's pension expense for 2018. 2. Prepare...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation ($ in millions) Balance, January 1, 2021 $ 780 Service cost 80 Interest cost, discount rate, 5% 39 Gain due to changes in actuarial assumptions in 2021 (23 ) Pension benefits paid (39 ) Balance, December 31, 2021 $ 837 Plan Assets ($ in millions) Balance, January 1, 2021 $ 820 Actual...
The following data relates to CheeseFactory Inc's pension plan for the year 2020: Defined benefit obligation...
The following data relates to CheeseFactory Inc's pension plan for the year 2020: Defined benefit obligation at January 1, 2020 - $627,000 Fair value of plan assets at January 1, 2020 - $600,000 Current service cost - $82,000 Cost of past service benefits granted effective December 31, 2020 - $34,000 Actual return on plan assets - $70,000 Contributions to plan - $87,000 Benefits paid - $ 45,000 Actuarial loss - $39,000 Interest (discount) rate - 8% Instructions: (a) Prepare a...
The following information is related to the defined benefit pension plan of Simpson Company for the...
The following information is related to the defined benefit pension plan of Simpson Company for the year: Service cost $ 92,000 Contributions to pension plan 143,000 Benefits paid to retirees 119,000 Plan assets (fair value), January 1 548,000 Plan assets (fair value), December 31 661,000 Actual return on plan assets 89,000 PBO, January 1 835,000 PBO, December 31 891,500 Discount rate 10 % Long-term expected return on plan assets 9 % Assuming no other relevant data exist, what is the...
Preparing a Pension Work Sheet The following data relate to the defined benefit pension plan of Haan Company Balances at January 1. 2013: PBO $3.500 Prior service cost C $150 Fair value of pension assets $3.000 ABO $2,800 Expected return on plan assets 7% Obligation discount rate 10% Activity for 2013 Service cost $400 Benefit payments to retirees 170 Contributions to pension fund 230 Actual return on plan assets 130 Prior service cost amortization 40 rt Draw Design Layout References...
Information regarding the defined benefit pension plan of Duncan Services included Plan assets, January 1 126,772 Plan assets, December 31 233,015 Retiree benefits paid (end of year) 28,383 Employer contributions to the pension plan 109,610 (end of year) What was the actual return on plan assets for 2016?
Coronado Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2020 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $56,100. Minimize global navigation res a contribution to the pension trustee amounting to $136,572 for 2020. 3. As of January 1, 2020, the company had a projected benefit obligation of $903,400,...
Coronado Company sponsors a defined benefit pension plan for its
employees. The following data relate to the operation of the plan
for the year 2020 in which no benefits were paid. 1. The actuarial
present value of future benefits earned by employees for services
rendered in 2020 amounted to $56,100. 2. The company’s funding
policy requires a contribution to the pension trustee amounting to
$136,572 for 2020. 3. As of January 1, 2020, the company had a
projected benefit obligation...
The following pension-related data pertain to Metro Recreation's
noncontributory, defined benefit pension plan for 2018: ($ in
000s)
Jan. 1 Dec. 31
Projected benefit obligation $ 4,400 $ 4,680
Accumulated benefit obligation 3,730 3,980
Plan assets (fair value) 4,980 5,425
Interest (discount) rate, 6%
Expected return on plan assets, 10%
Prior service cost−AOCI (from Dec. 31, 2017, amendment) 870
Net loss−AOCI 518
Average remaining service life: 10 years
Gain due to changes in actuarial assumptions 44
Contributions to pension fund...
Exercise 20-13 Wildhorse Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,560 2,010 2,260 1,540 Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for the year 2017 Contributions (funding in 2017) Benefits paid in 2017 December 31, 2017 $2,010 2,820 3,630 2,560 10 % 720 400 730 200 (a) Compute the actual...
The following data relates to CheeseFactory Inc's pension plan for the year 2020: Defined benefit obligation at January 1, 2020 - $627,000 Fair value of plan assets at January 1, 2020 - $600,000 Current service cost - $82,000 Cost of past service benefits granted effective December 31, 2020 - $34,000 Actual return on plan assets - $70,000 Contributions to plan - $87,000 Benefits paid - $ 45,000 Actuarial loss - $39,000 Interest (discount) rate - 8% Instructions: (a) Prepare a...
Most questions answered within 3 hours.
-
Computer Programming II CS141(Java)
Mention the appropriate relationship between following
classes:
HOD–StaffMember
Car–Ferrari
Student-Address
BankAccount–FixedAccount
House-Building...
asked 2 hours ago -
Assume one of your finals has 50 questions on it, and
lucky for you, it's all...
asked 3 hours ago -
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 5 hours ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 5 hours ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 5 hours ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 5 hours ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 6 hours ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 6 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 9 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 10 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 10 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 10 hours ago