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The projected benefit obligation and plan assets were $80 million and $140 million, respectively, at the...
The projected benefit obligation and plan assets were $100 million and $140 million, respectively, at the beginning of...
The projected benefit obligation and plan assets were $100 million and $140 million, respectively, at the beginning of the year. Due primarily to favorable stock market performance in recent years, there also was a net gain of $44 million. On average, employees' remaining service life with the company is 10 years. As a result of the net gain, what was the increase or decrease in pension expense for the year? (Amounts to be deducted should be indicated with a minus...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the yea...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the year. Service cost for the year was $6 million. At the end of the year, pension benefits paid by the trustee were $2 million. The actuary's discount rate was 5%.At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain...
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $45 million, $35 million,...
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $45 million, $35 million, and $30 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $56 million instead? a. million million b.
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $50 million, $40 million,...
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $50 million, $40 million, and $29 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $67 million instead? million million b.
Capsule Corp. has a Projected Benefit Obligation(PBO) balance of $47,000 and a balance in plan assets...
Capsule Corp. has a Projected Benefit Obligation(PBO) balance of $47,000 and a balance in plan assets of $44,000 at the beginning of the year. Because of recent unexpected excessive returns on its investments of plan assets, its net pension gain in accumulated other comprehensive income totaled $8,000. The average remaining service period of Capsule's employees is 15 years. Before considering the possible amortization of this net gain, Capsule's pension expense is $11,000. How much total pension expense will Capsule record...
The projected benefit obligation was $140 million at the beginning of the year and $149 million...
The projected benefit obligation was $140 million at the beginning of the year and $149 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $3 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. What was the amount of the service cost for the year?
Millions 2016 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 3,958 Service cost...
Millions 2016 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 3,958 Service cost 84 Interest cost 143 Actuarial loss/(gain) 124 Gross benefits paid (199) Projected benefit obligation at end of year $ 4,110 Plan Assets Fair value of plan assets at beginning of year $ 3,544 Actual return/(loss) on plan assets 279 Voluntary funded pension plan contributions 100 Non-qualified plan benefit contributions 24 Gross benefits paid (199) Fair value of plan assets at end of year $...
The pension plan was amended last year, creating a prior service cost of $10 million. Service...
The pension plan was amended last year, creating a prior service cost of $10 million. Service cost and interest cost for the year were $12 million and $5 million, respectively. At the end of the year, there was a negligible balance in the net gain-pensions account. The actual return on plan assets was $5 million although it was expected to be $6 million. On average, employees' remaining service life with the company is 10 years. What was the total pension...
Monty Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values...
Monty Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation Plan Assets Value 2019 $2,100,000 $1,995,000 2020 2,520,000 2,625,000 2021 3,097,500 2,730,000 2022 3,780,000 3,150,000 The average remaining service life per employee in 2019 and 2020 is 10 years and in 2021 and 2022 is 12 years. The net gain or loss that occurred during each year is as follows: 2019, $294,000 loss; 2020, $94,500 loss;...
The projected benefit obligation was $420 million at the beginning of the year and $425 million...
The projected benefit obligation was $420 million at the beginning of the year and $425 million at the end of the year. Service cost for the year was $23 million. At the end of the year, pension benefits paid by the trustee were $19 million. The actuary's discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the...
The projected benefit obligation and plan assets were $100 million and $140 million, respectively, at the beginning of the year. Due primarily to favorable stock market performance in recent years, there also was a net gain of $44 million. On average, employees' remaining service life with the company is 10 years. As a result of the net gain, what was the increase or decrease in pension expense for the year? (Amounts to be deducted should be indicated with a minus...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the year. Service cost for the year was $6 million. At the end of the year, pension benefits paid by the trustee were $2 million. The actuary's discount rate was 5%.At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain...
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $45 million, $35 million, and $30 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $56 million instead? a. million million b.
JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $50 million, $40 million, and $29 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $67 million instead? million million b.
The pension plan was amended last year, creating a prior service cost of $10 million. Service cost and interest cost for the year were $12 million and $5 million, respectively. At the end of the year, there was a negligible balance in the net gain-pensions account. The actual return on plan assets was $5 million although it was expected to be $6 million. On average, employees' remaining service life with the company is 10 years. What was the total pension...
The projected benefit obligation was $420 million at the beginning of the year and $425 million at the end of the year. Service cost for the year was $23 million. At the end of the year, pension benefits paid by the trustee were $19 million. The actuary's discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the...
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