Homework Answers
| Beginning of 2021 APBO | 100 | |
| Add: Service cost | 8 | |
| Add: Interest cost | 8 | =100*8% |
| Less: Gain on APBO | -5 | |
| Less: Retiree benefits | -11 | |
| APBO | 100 | million |
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On January 1, 2021, Medical Transport Company's accumulated postretirement benefit obligation was $100 million. At the...
On January 1, 2018, Tom's Transport Company's accumulated post retirement benefit obligation was $37000000....
On January 1, 2018, Tom's Transport Company's
accumulated post retirement benefit obligation was $37000000. At
the end of 2018, retiree benefits paid were $4200000. Service cost
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healthcare costs were revised at the end of 2018. this revision
cause the actuary to revised downward the estimate of the APBO by
$570,000. the appropriate discount rate was...
The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the yea...
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The projected benefit obligation was $420 million at the beginning of the year and $425 million...
The projected benefit obligation was $420 million at the beginning of the year and $425 million at the end of the year. Service cost for the year was $23 million. At the end of the year, pension benefits paid by the trustee were $19 million. The actuary's discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are...
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The information below pertains to the retiree health care plan of Thompson Technologies: Accumulated postretirement benefit...
The information below pertains to the retiree health care plan of Thompson Technologies: Accumulated postretirement benefit obligation Plan assets Funded status Prior service cost-AOCI Net gain-AOCI ($ in 00s) 2018 2018 Beginning Ending Balances Balances $ 550 $ 575 75 (550) (500) 190 156 (64) (63) Thompson began funding the plan in 2018 with a contribution of $141,000 to the benefit fund at the end of the year. Retirees were paid $52,000. The actuary's discount rate is 4%. There were...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are provided to employees who render 10 years service and attain age 55 while in service. At the end of 2018, Jim Lukawitz is 40. He was hired by Prince at age 35 (5 years ago) and is expected to retire at age 61. The expected postretirement benefit obligation for Lukawitz at the end of 2018 is 6$56,000 and $59,000 at the end of 2019...
The projected benefit obligation was $120 million at the beginning of the year and $125 million...
The projected benefit obligation was $120 million at the beginning of the year and $125 million at the end of the year. Service cost for the year was $8 million. At the end of the year, pension benefits paid by the trustee were $4 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...
Southeast Technology provides postretirement health care benefits to employees. On January 1, 2021, the following plan-related...
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Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are provided to employees who render 10 years service and attain age 55 while in service. At the end of 2018, Jim Lukawitz is 31. He was hired by Prince at age 23 years ago) and is expected to retire at age 60. The expected postretirement benefit obligation for Lukawitz at the end of 2018 is $38.000 and $43.000 at the end of 2019. Calculate...
The projected benefit obligation was $280 million at the beginning of the year and $285 million...
The projected benefit obligation was $280 million at the beginning of the year and $285 million at the end of the year. Service cost for the year was $16 million. At the end of the year, pension benefits paid by the trustee were $12 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...
On January 1, 2018, Tom's Transport Company's
accumulated post retirement benefit obligation was $37000000. At
the end of 2018, retiree benefits paid were $4200000. Service cost
for 2018 is $6700000. At the end of 2018, there was no service cost
or net gain or loss. Assumptions regarding the trend of future
healthcare costs were revised at the end of 2018. this revision
cause the actuary to revised downward the estimate of the APBO by
$570,000. the appropriate discount rate was...
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 $420 million at the beginning of the year and $425 million at the end of the year. Service cost for the year was $23 million. At the end of the year, pension benefits paid by the trustee were $19 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...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are provided to employees who render 10 years service and attain age 55 while in service. At the end of 2021, Jim Lukawitz is 37. He was hired by Prince at age 29 (8 years ago) and is expected to retire at age 62. The expected postretirement benefit obligation for Lukawitz at the end of 2021 is $50,000 and $53,000 at the end of 2022....
The information below pertains to the retiree health care plan of Thompson Technologies: Accumulated postretirement benefit obligation Plan assets Funded status Prior service cost-AOCI Net gain-AOCI ($ in 00s) 2018 2018 Beginning Ending Balances Balances $ 550 $ 575 75 (550) (500) 190 156 (64) (63) Thompson began funding the plan in 2018 with a contribution of $141,000 to the benefit fund at the end of the year. Retirees were paid $52,000. The actuary's discount rate is 4%. There were...
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are provided to employees who render 10 years service and attain age 55 while in service. At the end of 2018, Jim Lukawitz is 40. He was hired by Prince at age 35 (5 years ago) and is expected to retire at age 61. The expected postretirement benefit obligation for Lukawitz at the end of 2018 is 6$56,000 and $59,000 at the end of 2019...
Southeast Technology provides postretirement health care benefits to employees. On January 1, 2021, the following plan-related data were available: Prior service cost-originated in 2016 Accumulated postretirement benefit obligation Fair value of plan assets Average remaining service period to retirement Average remaining service period to fall eligibility (Sin thousands) $ 53 560 hone 20 years (same in previous 10 years) 15 years in previous 10 years) On January 1, 2021, Southeast amends the plan in response to spiraling health care costs....
Prince Distribution Inc. has an unfunded postretirement benefit plan. Medical care and life insurance benefits are provided to employees who render 10 years service and attain age 55 while in service. At the end of 2018, Jim Lukawitz is 31. He was hired by Prince at age 23 years ago) and is expected to retire at age 60. The expected postretirement benefit obligation for Lukawitz at the end of 2018 is $38.000 and $43.000 at the end of 2019. Calculate...
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