Question

10.) Calculate the total prior service cost using the following information. Write your answer on the cover sheet. $ FACTS: T
USE THE FOLLOWING INFORMATION FOR # 11 - 20: Interest (Cost) Rate Expected rate of return on plan assets Actual rate of retur
12.) Calculate the 2017 expected return on plan assets and write the answer on the cover sheet. 13.) Calculate the 2017 actua
17.) A loss on assumption changes has what impact on regular net income? Increase, decrease OR no impact. Write the answer in
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:- 10. We know that Porios Service cost = final year sulory X Revised Esete_86 per Jute et percentage x No.of year els

Add a comment
Know the answer?
Add Answer to:
10.) Calculate the total prior service cost using the following information. Write your answer on the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • USE THE FOLLOWING INFORMATION FOR 11-20 Interest (Cost) Rate Expected rate of return on plan assets...

    USE THE FOLLOWING INFORMATION FOR 11-20 Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year Projected benefit obligation at the end of 2017 Plan assets at the beginning of the year Actual return on plan assets Cash contributions...

  • USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan...

    USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH 3% 3% 49% $ 120,000 e beginning of 2017 Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year S $ 350,000 40,000 $ $ 3.500 (45,000) Projected benefit obligation at the...

  • SE THE FOLLOWING INFORMATION FOR #11 - 20 Interest (Cost) Rate Expected rate of return on...

    SE THE FOLLOWING INFORMATION FOR #11 - 20 Interest (Cost) Rate Expected rate of return on plan assets Actual rate of retum on plan assets Beginning of year balance in CASH Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year $ 350,000 40,000 00 45.000 Projected benefit obligation at the end of 2017 Plan assets at the beginning of the year...

  • USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan...

    USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH $ 120,000 Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year $ $ 350,000 40.000 S 3,500 (45,000) Projected benefit obligation at the end of 2017 $ 250,000 Plan assets at...

  • 10.) Calculate the total prior service cost using the following information. Write your answer on the...

    10.) Calculate the total prior service cost using the following information. Write your answer on the cover sheet. FACTS: The company has a defined benefit plan Hailey's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate $ 112,000 30 40 20% years of service years years Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 10 2.0% $ 260,000 AFTER...

  • 10.) Calculate the total prior service cost using the following information. Write your answer on the...

    10.) Calculate the total prior service cost using the following information. Write your answer on the cover sheet. $ FACTS: The company has a defined benefit plan Seth's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate 145,000 45 20 4.0% years of service years years Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 15 2.0% 263,000 $ AFTER...

  • USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan...

    USE THE FOLLOWING INFORMATION FOR # 11-20 Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH 3% 3% 4% 120,000 $ e beginning of 2017 Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year $ $ 350,000 40,000 $ $ 3.500 (45,000) Projected benefit obligation at the...

  • Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan...

    Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH $ 120,000 $ 350,000 $ 40,000 Projected benefit obligation at the beginning of 2017 Service cost, 2017 Interest Cost Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year 3,500 (45,000) $ Projected benefit obligation at the end of 2017 $ 250,000 Plan assets at the beginning of the year Actual return...

  • Calculate the total prior service cost using the following information. Write your answer on the cover...

    Calculate the total prior service cost using the following information. Write your answer on the cover sheet. $ 145,000 FACTS: "he company has a defined benefit plan jeth's salary at the end of 2017 Retirement expected after Retirement period is expected to be nterest Rate 45 years of service years 20 4.0% years Benefits are calculated as a formula as the product of: service already provided 'ercentage inal year's salary is projected to be 15 2.0% 263,000 $ FTER THE...

  • Calculate the total prior service cost using the following information. Write your answer on the cover...

    Calculate the total prior service cost using the following information. Write your answer on the cover sheet. $ 145,000 FACTS: "he company has a defined benefit plan jeth's salary at the end of 2017 Retirement expected after Retirement period is expected to be nterest Rate 45 years of service years 20 4.0% years Benefits are calculated as a formula as the product of: service already provided 'ercentage inal year's salary is projected to be 15 2.0% 263,000 $ FTER THE...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT