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Question 10 0 out of 0.4 points Information regarding the defined-benefit pension plan of Tu Primo...
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year...
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year ending December 31, 2018: Service cost for 2018 Accumulated benefit obligation Plan assets at fair value Accumulated OCI (PSC) Vested benefit obligation Market-related asset value Projected benefit obligation Accumulated OCI net gain Interest on projected benefit obligation $ 45,000 683,000 630,000 300,000 505,000 725,000 865,000 90,000 64,000 Instructions (a) Calculate the pension asset / liability to be recorded at December 31, 2018. (b) Calculate...
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan...
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2020 and 2021. 2020 2021 Plan assets (fair value), December 31 $699,000 $849,000 Projected benefit obligation, January 1 700,000 800,000 Pension asset/liability, January 1 140,000 Cr. ? Prior service cost, January 1 250,000 240,000 Service cost 60,000 90,000 Actual and expected return on plan assets 24,000 30,000 Amortization of prior service cost 10,000 12,000 Contributions (funding) 115,000 120,000 Accumulated benefit obligation,...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees....
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
Ohlman, Inc. maintains a defined-benefit pension plan for its employees. As of December 31, 2015, the...
Ohlman, Inc. maintains a defined-benefit pension plan for its employees. As of December 31, 2015, the market value of the plan assets is less than the accumulated benefit obligation. The projected benefit obligation exceeds the accumulated benefit obligation. In its balance sheet as of December 31, 2015, Ohlman should report a liability in the amount of what
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?
Pearl Enterprises provides the following information relative to its defined benefit pension plan. Balances or Value...
Pearl Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation $2,743,700 Accumulated benefit obligation 1,980,300 Fair value of plan assets 2,290,800 Accumulated OCI (PSC) 212,000 Accumulated OCI—Net loss (1/1/20 balance, 0) 45,800 Pension liability 452,900 Other pension plan data for 2020: Service cost $94,300 Prior service cost amortization 42,200 Actual return on plan assets 129,800 Expected return on plan assets 175,600 Interest on January 1, 2020, projected...
Intermediate Accounting 303 Gordon Company sponsors a defined benefit pension plan. The following information related to...
Intermediate Accounting 303 Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011. 2010 2011 Plan assets (fair value), December 31 $699,000 $849,000 Projected benefit obligation, January 1 700,000 800,000 Pension asset/liability, January 1 140,000Cr ? Prior service cost, January 1 250,000 240,000 Service cost 60,000 90,000 Actual and expected return on plan assets 24,000 30,000 Amortization of prior service cost 10,000 12,000 Contributions (funding) 115,000 120,000 Accumulated...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: Projected...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 -credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid to retirees Prior service...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1-credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 - credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets...
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year ending December 31, 2018: Service cost for 2018 Accumulated benefit obligation Plan assets at fair value Accumulated OCI (PSC) Vested benefit obligation Market-related asset value Projected benefit obligation Accumulated OCI net gain Interest on projected benefit obligation $ 45,000 683,000 630,000 300,000 505,000 725,000 865,000 90,000 64,000 Instructions (a) Calculate the pension asset / liability to be recorded at December 31, 2018. (b) Calculate...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
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?
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 -credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid to retirees Prior service...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1-credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 - credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets...
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