If pension plan assets (inside the trust) are greater than the projected benefit obligation the pension...
If pension plan assets (inside the trust) are greater than the projected benefit obligation the pension plan is said to be ________________.
Homework Answers
If pension plan assets (inside the trust) are greater than the projected benefit obligation, then the pension plan is said to be overfunded. It will be reported as pension asset in the balance sheet. If pension plan assets (inside the trust) are less than the projected benefit obligation, then the pension plan is said to be underfunded.
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If pension plan assets (inside the trust) are greater than the
projected benefit obligation the pension...
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.
If a pension plan amendment results in a 1,500,000 increase in the projected benefit obligation, the...
If a pension plan amendment results in a 1,500,000 increase in the projected benefit obligation, the pension expense will?
The following pension plan information is for Pharoah Company at December 31, 2018. Projected benefit obligation...
The following pension plan information is for Pharoah Company at December 31, 2018. Projected benefit obligation $ 8600000 Accumulated benefit obligation 7550000 Plan assets (at fair value) 6128000 Accumulated OCI (PSC) 460000 Pension expense for 2018 2600000 Contribution for 2018 2008000 The amount to be reported as the liability for pensions on the December 31, 2018 balance sheet is
The approach adopted by the accounting profession to measure a firm s pension obligation is the:...
The approach adopted by the accounting profession to measure a firm s pension obligation is the: vested benefit obligation. accumulated benefit obligation. projected benefit obligation. defined benefit obligation. A pension liability is reported when the projected benefit obligation exceeds the fair value of pension plan assets. the pension expense reported for the period is greater than the funding amount for the same period. accumulated other comprehensive income exceeds the fair value of pension plan assets. the accumulated benefit obligation is...
At January 1, 2017, Blue Company had plan assets of $303,400 and a projected benefit obligation...
At January 1, 2017, Blue Company had plan assets of $303,400 and
a projected benefit obligation of the same amount. During 2017,
service cost was $26,700, the settlement rate was 10%, actual and
expected return on plan assets were $24,500, contributions were
$19,700, and benefits paid were $16,900.
Prepare a pension worksheet for Blue Company for 2017.
BLUE COMPANY neral Journal Entrie Memo Record Projected Benefit Plan Assets Pension Pension Items Expense Cash Asset/Liability Obligation Service cost Interest cost Actual...
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 $...
Linseed has Noncontributory, Funded, Defined Benefit Pension Plan. As of 12-31-2016, the projected benefit obligation (PBO)...
Linseed has Noncontributory, Funded, Defined Benefit Pension Plan. As of 12-31-2016, the projected benefit obligation (PBO) was $468,000. As of 12-31-2016, the fair value of the pension plan assets was $544,000. As do may companies, Linseed tries to minimize its reported liabilities on the balance sheet while complying with generally accepted accounting principles (GAAP). On its 12-31-2016 balance sheet Linseed will report a
The following information pertains to Metion Co's pension plan Actuarial estimate of projected benefit obligation at...
The following information pertains to Metion Co's pension plan Actuarial estimate of projected benefit obligation at 1/1/11 $72,000 $70,000 10% $18,000 $15,000 Plan assets 1/1/11 Assumed discount rate Service costs for 2012 Pension benefits paid during 2011 Mellon's interest cost at December 31, 2011 was $7,200 $7,000 $1,500 $1,800. a. b, C. d.
The Pension Plan for Plastics Inc. as of January 1, 2018, includes a Projected Beneft Obligation...
The Pension Plan for Plastics Inc. as of January 1, 2018, includes a Projected Beneft Obligation of $800,000 and Plan Assets of $670,000. During the year, Pension Expense was $40,000, Contributions to the plan were $20,000 and benefits paid to retirees in 2018 were $14,000 2018 year end Balances are - Pension Benefit Obligation - $975,00, P $250,000 and Plan Assets of $725,000. Based on the above data, what was the actual return on Plan Assets for 2018? ension Liablity...
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.
At January 1, 2017, Blue Company had plan assets of $303,400 and
a projected benefit obligation of the same amount. During 2017,
service cost was $26,700, the settlement rate was 10%, actual and
expected return on plan assets were $24,500, contributions were
$19,700, and benefits paid were $16,900.
Prepare a pension worksheet for Blue Company for 2017.
BLUE COMPANY neral Journal Entrie Memo Record Projected Benefit Plan Assets Pension Pension Items Expense Cash Asset/Liability Obligation Service cost Interest cost Actual...
The following information pertains to Metion Co's pension plan Actuarial estimate of projected benefit obligation at 1/1/11 $72,000 $70,000 10% $18,000 $15,000 Plan assets 1/1/11 Assumed discount rate Service costs for 2012 Pension benefits paid during 2011 Mellon's interest cost at December 31, 2011 was $7,200 $7,000 $1,500 $1,800. a. b, C. d.
The Pension Plan for Plastics Inc. as of January 1, 2018, includes a Projected Beneft Obligation of $800,000 and Plan Assets of $670,000. During the year, Pension Expense was $40,000, Contributions to the plan were $20,000 and benefits paid to retirees in 2018 were $14,000 2018 year end Balances are - Pension Benefit Obligation - $975,00, P $250,000 and Plan Assets of $725,000. Based on the above data, what was the actual return on Plan Assets for 2018? ension Liablity...
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