Homework Answers
| Actual return on plan assets can be calculated as below: | ||
| Change in fair value of plan assets (i.e. end fair value - beginning) | $ 3,24,000 | |
| Less: | Contributions to the plan in 2017 | $ 3,04,000 |
| Add: | Benefits paid retirees in 2017 | $ 3,76,000 |
| Actual return on plan assets for 2017 = | $ 3,96,000 | |
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Exercise 20-6 Bridgeport Importers provides the following pension plan information. Fair value of pension plan assets,...
i need help with this "ractice Assignment Gradebook ORION Downloadable eTextbook ignment Exercise 20-6 X Your...
i need help with this
"ractice Assignment Gradebook ORION Downloadable eTextbook ignment Exercise 20-6 X Your answer is incorrect. Try again. Bonita Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2017 $2,438,000 Fair value of pension plan assets, December 31, 2017 2,731,000 Contributions to the plan in 2017 289,000 Benefits paid retirees in 2017 365,000 From the data above, compute the actual return on the plan assets for 2017. Actual return on plan...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
A B The following information is available for the pension plan of Sunland Company for the...
A
B
The following information is available for the pension plan of Sunland Company for the year 2017. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $ 14,000 41,500 94,400 10 % 7,800 479,000 62,500 Compute pension expense for the year 2017. Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the...
Exercise 20-4 The following facts apply to the pension plan of Metlock Inc. for the year 2017. Plan assets, January 1...
Exercise 20-4
The following facts apply to the pension plan of Metlock Inc.
for the year 2017.
Plan assets, January 1, 2017
$515,100
Projected benefit obligation, January 1, 2017
515,100
Settlement rate
8
%
Service cost
36,800
Contributions (funding)
26,700
Actual and expected return on plan assets
50,200
Benefits paid to retirees
36,700
Using the preceding data, compute pension expense for the year
2017. As part of your solution, prepare a pension worksheet that
shows the journal entry for pension...
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...
Exercise 20-4 The following facts apply to the pension plan of Coronado Inc. for the year...
Exercise 20-4 The following facts apply to the pension plan of Coronado Inc. for the year 2017. Plan assets, January 1, 2017 $511,800 Projected benefit obligation, January 1, 2017 511,800 Settlement rate 8 % Service cost 36,500 Contributions (funding) 23,500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension...
Exercise 20-4 The following facts apply to the pension plan of Boudreau Inc. for the year...
Exercise 20-4 The following facts apply to the pension plan of Boudreau Inc. for the year 2017 Plan assets, January 1, 2017 Projected benefit obligation, January 1, 2017 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $490,000 490,000 896 40,000 25,000 49,700 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense...
Bonita Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following information about...
Bonita Company sponsors a defined benefit pension plan. The
corporation’s actuary provides the following information about the
plan.
January 1,
2017
December
31, 2017
Vested benefit
obligation
$1,390
$1,750
Accumulated benefit
obligation
1,750
2,850
Projected benefit
obligation
2,350
3,540
Plan assets (fair value)
1,820
2,550
Settlement rate and expected
rate of return
10
%
Pension asset/liability
530
?
Service cost for the year
2017
440
Contributions (funding in
2017)
720
Benefits paid in 2017
220
(a) Compute the actual return...
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...
Kingbird Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,400 2,080 2,420 1,610 December 31, 2017 $...
Kingbird Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,400 2,080 2,420 1,610 December 31, 2017 $2,080 2,970 3,550 2,520 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 Contributions (funding in 2017) Benefits paid in 2017 10% 810 the year 2017 410 650 190 (a) Compute the actual return on the...
i need help with this
"ractice Assignment Gradebook ORION Downloadable eTextbook ignment Exercise 20-6 X Your answer is incorrect. Try again. Bonita Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2017 $2,438,000 Fair value of pension plan assets, December 31, 2017 2,731,000 Contributions to the plan in 2017 289,000 Benefits paid retirees in 2017 365,000 From the data above, compute the actual return on the plan assets for 2017. Actual return on plan...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
A
B
The following information is available for the pension plan of Sunland Company for the year 2017. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $ 14,000 41,500 94,400 10 % 7,800 479,000 62,500 Compute pension expense for the year 2017. Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the...
Exercise 20-4
The following facts apply to the pension plan of Metlock Inc.
for the year 2017.
Plan assets, January 1, 2017
$515,100
Projected benefit obligation, January 1, 2017
515,100
Settlement rate
8
%
Service cost
36,800
Contributions (funding)
26,700
Actual and expected return on plan assets
50,200
Benefits paid to retirees
36,700
Using the preceding data, compute pension expense for the year
2017. As part of your solution, prepare a pension worksheet that
shows the journal entry for pension...
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...
Exercise 20-4 The following facts apply to the pension plan of Coronado Inc. for the year 2017. Plan assets, January 1, 2017 $511,800 Projected benefit obligation, January 1, 2017 511,800 Settlement rate 8 % Service cost 36,500 Contributions (funding) 23,500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension...
Exercise 20-4 The following facts apply to the pension plan of Boudreau Inc. for the year 2017 Plan assets, January 1, 2017 Projected benefit obligation, January 1, 2017 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $490,000 490,000 896 40,000 25,000 49,700 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense...
Bonita Company sponsors a defined benefit pension plan. The
corporation’s actuary provides the following information about the
plan.
January 1,
2017
December
31, 2017
Vested benefit
obligation
$1,390
$1,750
Accumulated benefit
obligation
1,750
2,850
Projected benefit
obligation
2,350
3,540
Plan assets (fair value)
1,820
2,550
Settlement rate and expected
rate of return
10
%
Pension asset/liability
530
?
Service cost for the year
2017
440
Contributions (funding in
2017)
720
Benefits paid in 2017
220
(a) Compute the actual return...
Kingbird Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,400 2,080 2,420 1,610 December 31, 2017 $2,080 2,970 3,550 2,520 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 Contributions (funding in 2017) Benefits paid in 2017 10% 810 the year 2017 410 650 190 (a) Compute the actual return on the...
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