Homework Answers
Below is the solution for calculation of Closing Pension Fund Assets :-
| Particulars | Amt (In $ Mn) |
| Opening Plan Assets | 200 |
| Add :- | |
| Cash Invested in Pension Fund | 12 |
| Return on Plan Assets (200*6%) | 12 |
| Less :- | |
| Benefits paid to trustee | 8 |
| Closing Plan Assets | 216 |
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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...
The projected benefit obligation was $180 million at the beginning of the year. Service cost for the year was $22 million. At the end of the year, pension benefits paid by the trustee were $12 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $11 million although it was expected to be only $10 million What was the pension expense for the year? millon...
The projected benefit obligation was $280 million at the beginning of the year. Service cost for the year was $32 million. At the end of the year, pension benefits paid by the trustee were $17 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $16 million although it was expected to be only $15 million What was the pension expense for the year? Pension...
The projected benefit obligation was $320 million at the beginning of the year. Service cost for the year was $36 million. At the end of the year, pension benefits paid by the trustee were $19 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. The actual return on plan assets was $18 million although it was expected to be only $17 million. What was the pension expense for the year? Pension...
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Required information Problem 17-16 Comprehensive-reporting a pension plan; pension spreadsheet; determine changes in balances; two years [LO17-3, 17-4, 17-5, 17-6, 17-7, 17-8] [The following information applies to the questions displayed below.) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018: Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains)...
Brief Exercise 20-2 For Whispering Corporation, year-end plan assets were $1,999,000. At the beginning of the year, plan assets were $1,773,000. During the year, contributions to the pension fund were $112,000, and benefits paid were $203,000. Compute Whispering's actual return on plan assets. Actual etun on plan assets g Click if you would like to Show Work for this question: Open Show Work
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