ZuoTi.Pro
Question

13-)The 2011 values for a pension fund are provided in the table below, in millions of...

13-)The 2011 values for a pension fund are provided in the table below, in millions of dollars.

                    Pension Assets              

Beginning value on 1 January

Change in value in 2011

$50.11

6.30%

Pension Liabilities        

Beginning value on 1 January

Change in value in 2011   

$47.23

30%

Multiple choice question: Which of the following is closest to the surplus return for this fund?

      a)     -28.1%

  1. ) -2.1%
  2. )   7.3%
  3. ) -6.8%

-- PLEASE SHOW YOUR WORK/

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

There is something wrong in question, as per my findings, change in value of Pension liabilities should have been given 8.4% and i have answered according to that.

1. Beginning Surplus = $50.11-47.23 = $2.88
Pension assets at end of 2011 = $50.11 x 1.063 = $53.27
Pension Liabilities at end of 2011 = $47.23 x 1.084 = $51.20
Ending Surplus = $53.27-51.20 = $2.07

Change in Surplus = (2.88-2.07)/2.88 = -28.1%

Answer is a) -28.1%

0 0
Add a comment
Know the answer?
Add Answer to:
13-)The 2011 values for a pension fund are provided in the table below, in millions of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 13-)The 2011 values for a pension fund are provided in the table below, in millions of...

    13-)The 2011 values for a pension fund are provided in the table below, in millions of dollars.                     Pension Assets               Beginning value on 1 January Change in value in 2011 $90.11 10.30% Pension Liabilities         Beginning value on 1 January Change in value in 2011    $27.23 60% Calculate the surplus return for this fund

  • The following data relate to Voltaire Company’s defined benefit pension plan: ($ in millions) Plan assets...

    The following data relate to Voltaire Company’s defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1 $ 730 Expected return on plan assets 73 Actual return on plan assets 58 Contributions to the pension fund (end of year) 126 Amortization of net loss 14 Pension benefits paid (end of year) 18 Pension expense 98 Required: Determine the amount of pension plan assets at fair value on December 31. (Enter your answers in millions. Amounts to...

  • Selected financial data for Surfer Co. is provided below: ($ in millions) Sales Interest expense Tax...

    Selected financial data for Surfer Co. is provided below: ($ in millions) Sales Interest expense Tax expense Net income Total assets (beginning of year) Total assets (end of year) Total liabilities (end of year) Total stockholders' equity (end of year) $940,000 3,000 21,000 54,000 900,000 820,000 600,000 220,000 What is the return on assets for Surfer Co.? Multiple Choice 6.9% 6.3% 6.0% 6.6%.

  • Selected financial data for Channel Co. is provided below: 24 X 02 18:48 ($ in millions)...

    Selected financial data for Channel Co. is provided below: 24 X 02 18:48 ($ in millions) Sales Interest expense Tax expense Net income Total assets (beginning of year) Total assets (end of year) Total liabilities (end of year) Total stockholders' equity (end of year) $50,000 1,000 2,000 7,000 54,000 60,000 24,000 36,000 What is the debt to equity ratio for Channel Co.? Multiple Choice 0 0 0

  • The Dec. 31, 2011, balance sheet of Tybee Corporation is provided below in millions Assets Cash...

    The Dec. 31, 2011, balance sheet of Tybee Corporation is provided below in millions Assets Cash $24 Account Receivable $15 Supplies $6 Prepaid insurance $12 Equipment $50 Less: Acc. Dep(12) $38 Land $10 Total: $105 Liabilities and Shareholders' Equity Accounts Payable $4 Interest Payable $3 Unearned Revenue $12 Other Short- term payable $4 Long term note payable $50 Contributed CApital $20 Retained Earnings $12 Total $105 Transactions during January 2012: -Paid $5 for employee wages -Collected $10 cash from customers...

  • selected financial data for surfer co. is provided below Selected financial data for Surfer Co. is...

    selected financial data for surfer co. is provided below Selected financial data for Surfer Co. is provided below: ($ in millions) Sales Interest expense Tax expense Net income Total assets (beginning of year) Total assets (end of year) Total liabilities (end of year) Total stockholders' equity (end of year) $940,000 3,000 21,000 54,000 900,000 820,000 600,000 220,000 What is the debt to equity ratio for Surfer Co.? Multiple Choice oo ) 0.37. o Given the information below, which bond(s) will...

  • Analyzing and Interpreting Pension and Health Care Footnote Xerox Corporation reports the following pension and retiree...

    Analyzing and Interpreting Pension and Health Care Footnote Xerox Corporation reports the following pension and retiree health care (“Other”) footnote as part of its 10-K report. December 31, 2015 ($ millions) Pension Benefits Retiree Health Change in Benefit Obligation Benefit obligation, January 1 $11,855 $937 Service cost 36 7 Interest cost 295 34 Plan participants’ contributions 4 14 Actuarial loss (332) (4) Currency exchange rate changes (538) (25) Plan amendments and curtailments (17) (31) Benefits paid/settlements (638) (77) Benefit obligation,...

  • The projected benefit obligation was $160 million at the beginning of the year and $165 million at the end of the yea...

    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...

  • Analyzing and Interpreting Pension Disclosures Assume E.I. Du Pont De Nemours and Co.'s 10-K report has...

    Analyzing and Interpreting Pension Disclosures Assume E.I. Du Pont De Nemours and Co.'s 10-K report has the following disclosures related to its retirement plans ($ millions). Pension Benefits ($ millions) 2010 2009 Change in benefit obligation Benefit obligation at beginning of year $ 22,849 $ 22,935 Service cost 383 388 Interest cost 1,228 1,192 Plan participants' contributions 13 9 Acturarial loss (gain) (728) (244) Benefits paid (1,544) (1,506) Amendments -- (1) Net effects of acquisitions/divestitures 5 76 Benefit obligation at...

  • Lowe's Companies, Inc. Consolidated Statements of Earnings (In millions, except per share and percentage data) February...

    Lowe's Companies, Inc. Consolidated Statements of Earnings (In millions, except per share and percentage data) February 1, 0 Sales February 2, 20197 Sales 2018 $ 71,309 100.00% $ 68,619 48,40167.88 46,185 22,908 32.12 22,434 0% Sales February % Sales 100.00% $ 65,017 67.31 43,343 32.69 21,674 % Sales 100.00% 66.66 33.34 Fiscal years ended on Net sales Cost of sales Gross margin Expenses: Selling, general and administrative Depreciation and amortization Operating income Interest - net Loss on extinguishment of debt...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT