he following information is related to the Stone Co. postretirement benefits plan for 2018:
| Service cost | $165,000 | |
| Discount rate | 10% | |
| EPBO, January 1, 2018 | 822,000 | |
| APBO, January 1, 2018 | 662,000 | |
| Actual return on plan assets in 2018 | 22,600 | |
| Expected return on plan assets in 2018 | 28,800 | |
| Contributions (funding) | 223,000 |
Homework Answers
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he following information is related to the Stone Co.
postretirement benefits plan for 2018:
Service cost...
The following information is related to the Stone Co. postretirement benefits plan for 2018: Discount rate...
The following information is related to the Stone Co. postretirement benefits plan for 2018: Discount rate ????, January 1, 2018 APBO, January 1, 2018 Actual return on plan assets in 2018 Expected return on plan assets in 2018 Contributions (funding) $156,000 8% 813,000 653,000 21,700 29,700 227,500 ompute the amount of postretirement expense for Amount of postretirement expense SHOW LIST OF ACCOUNTS Prepare the journal entry to record postretirement expense and Stone's contributions for 2018. Account Titles and Explanation Debit...
ata pertaining to the postretirement health care benefit plan of Danielson Delivery Service include the following...
ata pertaining to the postretirement health care benefit plan of Danielson Delivery Service include the following for the current calendar year: Service cost $ 156,000 APBO, January 1 $ 860,000 Plan assets (fair value), January 1 $ 86,000 Prior service cost (current year amortization,$2,000) $ 96,000 Retiree benefits paid (end of year) $ 96,000 Net gain (current year amortization, $1,000) $ 98,000 Contribution to health care fund (end of year) $ 91,000 Return on plan assets (actual and expected) 10...
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost Prior service cost amortization Contribution to the plan Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Discount rate $99,000 3,100 56,900 64,700 38,400 711,400 761,000 93,100 Dr. 9% Prepare a worksheet inserting January 1, 2017, balances, showing December 31,...
*P20-14 (L06,7) (Postretirement Benefit Worksheet-2 Years) Elton Co. has the following postretirement benefit plan bal ances...
*P20-14 (L06,7) (Postretirement Benefit Worksheet-2 Years) Elton Co. has the following postretirement benefit plan bal ances on January 1, 2017 Accumulated postretirement benefit obligation $2,250,000 Fair value of plan assets 2,250,000 The interest (settlement) rate applicable to the plan is 10%. Or a ry 1, 2018, the company amends the plan so that peor service costs of $175,000 are created. Other data related to the plan and 2017 $ 75,000 Service costs Prior service costs amortization Contributions (funding) to the...
Exercise 17-27 Postretirement benefits; components of postretirement benefit expense (LO17-11] Data pertaining to the postretirement health...
Exercise 17-27 Postretirement benefits; components of postretirement benefit expense (LO17-11] Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2018: ($ in wees) $ 142 1.es 50 Service cost Accumulated postretirement benefit obligation, January 1 Plan assets (fair value), January 1 Prior service cost-AOCI Net gain-AOCI (2018 amortization, $1) Retiree benefits paid (end of year) Contribution to health care benefit fund (end of year) Discount rate, 6% Return on plan assets (actual and...
Service cost $46,900 10,500 Contribution to the plan Actual and expected return on plan assets 11,800...
Service cost $46,900 10,500 Contribution to the plan Actual and expected return on plan assets 11,800 Benefits paid 21,100 Plan assets at January 1, 2017 120,800 317,900 Accumulated postretirement benefit obligation at January 1, 2017 Discount rate 10 % Prepare a worksheet inserting January 1, 2017, balances, and showing December 31, 2017, balances. (Enter all amounts as positive.) Teal Co. Pension Worksheet-2017 General Journal Entries Memo Record Postretirement Asset/ Liability Annual Postretirement Expense Cash APBO Plan Assets Balance, Jan. 1,...
Exercise 20-23 Riverbed Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-23
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$88,200
Prior service cost
amortization
2,900
Contribution to the plan
51,400
Actual and expected return on plan
assets
61,900
Benefits paid
38,400
Plan assets at January 1, 2017
699,400
Accumulated postretirement benefit
obligation at January 1, 2017
756,800
Accumulated OCI (PSC) at January 1,
2017
101,900
Dr.
Discount rate
9
%
Prepare a worksheet inserting January 1, 2017, balances, showing
December...
Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for...
Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2018: ($ in 0008) $ 136 700 Service cost Accumulated postretirement benefit obligation, January 1 Plan assets (fair value), January 1 Prior service cost-AOCI Net gain-AOCI (2018 amortization, $2) Retiree benefits paid end of year) Contribution to health care benefit fund (end of year) Discount rate, 8% Return on plan assets (actual and expected), 10% none 100 200 Required: 1. Determine the postretirement benefit...
Question 7 View Policies Current Attempt in Progress Vaughn Co. provides the following information about its...
Question 7 View Policies Current Attempt in Progress Vaughn Co. provides the following information about its postretirement benefit plan for the year 2020. Service cost $49,200 Contribution to the plan 10,600 Actual and expected return on plan assets 12,100 Benefits paid 21,100 Plan assets at January 1, 2020 107,000 Accumulated postretirement benefit obligation at January 1, 2020 332,500 Discount rate 10% Prepare a worksheet inserting January 1, 2020, balances, and showing December 31, 2020, balances. (Enter all amounts as positive.)...
Elton Co. has the following postretirement benefit plan balances on January 1, 2017. Accumulated postretirement benefit...
Elton Co. has the following postretirement benefit plan balances
on January 1, 2017.
Accumulated postretirement benefit obligation
$2,250,000
Fair value of plan assets
2,250,000
The interest (settlement) rate applicable to the plan is 10%. On
January 1, 2018, the company amends the plan so that prior service
costs of $175,000 are created. Other data related to the plan
are:
2017
2018
Service costs
$75,000
$85,000
Prior service costs amortization
0
12,000
Contributions (funding) to the plan
45,000
35,000
Benefits paid...
The following information is related to the Stone Co. postretirement benefits plan for 2018: Discount rate ????, January 1, 2018 APBO, January 1, 2018 Actual return on plan assets in 2018 Expected return on plan assets in 2018 Contributions (funding) $156,000 8% 813,000 653,000 21,700 29,700 227,500 ompute the amount of postretirement expense for Amount of postretirement expense SHOW LIST OF ACCOUNTS Prepare the journal entry to record postretirement expense and Stone's contributions for 2018. Account Titles and Explanation Debit...
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost Prior service cost amortization Contribution to the plan Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Discount rate $99,000 3,100 56,900 64,700 38,400 711,400 761,000 93,100 Dr. 9% Prepare a worksheet inserting January 1, 2017, balances, showing December 31,...
*P20-14 (L06,7) (Postretirement Benefit Worksheet-2 Years) Elton Co. has the following postretirement benefit plan bal ances on January 1, 2017 Accumulated postretirement benefit obligation $2,250,000 Fair value of plan assets 2,250,000 The interest (settlement) rate applicable to the plan is 10%. Or a ry 1, 2018, the company amends the plan so that peor service costs of $175,000 are created. Other data related to the plan and 2017 $ 75,000 Service costs Prior service costs amortization Contributions (funding) to the...
Exercise 17-27 Postretirement benefits; components of postretirement benefit expense (LO17-11] Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2018: ($ in wees) $ 142 1.es 50 Service cost Accumulated postretirement benefit obligation, January 1 Plan assets (fair value), January 1 Prior service cost-AOCI Net gain-AOCI (2018 amortization, $1) Retiree benefits paid (end of year) Contribution to health care benefit fund (end of year) Discount rate, 6% Return on plan assets (actual and...
Service cost $46,900 10,500 Contribution to the plan Actual and expected return on plan assets 11,800 Benefits paid 21,100 Plan assets at January 1, 2017 120,800 317,900 Accumulated postretirement benefit obligation at January 1, 2017 Discount rate 10 % Prepare a worksheet inserting January 1, 2017, balances, and showing December 31, 2017, balances. (Enter all amounts as positive.) Teal Co. Pension Worksheet-2017 General Journal Entries Memo Record Postretirement Asset/ Liability Annual Postretirement Expense Cash APBO Plan Assets Balance, Jan. 1,...
Exercise 20-23
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$88,200
Prior service cost
amortization
2,900
Contribution to the plan
51,400
Actual and expected return on plan
assets
61,900
Benefits paid
38,400
Plan assets at January 1, 2017
699,400
Accumulated postretirement benefit
obligation at January 1, 2017
756,800
Accumulated OCI (PSC) at January 1,
2017
101,900
Dr.
Discount rate
9
%
Prepare a worksheet inserting January 1, 2017, balances, showing
December...
Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2018: ($ in 0008) $ 136 700 Service cost Accumulated postretirement benefit obligation, January 1 Plan assets (fair value), January 1 Prior service cost-AOCI Net gain-AOCI (2018 amortization, $2) Retiree benefits paid end of year) Contribution to health care benefit fund (end of year) Discount rate, 8% Return on plan assets (actual and expected), 10% none 100 200 Required: 1. Determine the postretirement benefit...
Question 7 View Policies Current Attempt in Progress Vaughn Co. provides the following information about its postretirement benefit plan for the year 2020. Service cost $49,200 Contribution to the plan 10,600 Actual and expected return on plan assets 12,100 Benefits paid 21,100 Plan assets at January 1, 2020 107,000 Accumulated postretirement benefit obligation at January 1, 2020 332,500 Discount rate 10% Prepare a worksheet inserting January 1, 2020, balances, and showing December 31, 2020, balances. (Enter all amounts as positive.)...
Elton Co. has the following postretirement benefit plan balances
on January 1, 2017.
Accumulated postretirement benefit obligation
$2,250,000
Fair value of plan assets
2,250,000
The interest (settlement) rate applicable to the plan is 10%. On
January 1, 2018, the company amends the plan so that prior service
costs of $175,000 are created. Other data related to the plan
are:
2017
2018
Service costs
$75,000
$85,000
Prior service costs amortization
0
12,000
Contributions (funding) to the plan
45,000
35,000
Benefits paid...
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