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The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan assets Prior service cost Net (Gain) loss 50 Pension Expenses PBO (460) Cash Net Pension (Liability)/ Asset 50 (19) (1.50) ($ in millions) debit (credit) Beginning Balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain loss LOSS on PBO Contribution to funds Retiree benefits paid Ending balance (3) (21) 21 (44) 35 (35) 266...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Prior...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Prior Net ($ in millions) debit (Credit) Beginning balance Service cost Interest cost Plan PBO Assets (520) Service (Gain) Pension Net Pension Expense Cash (Liability)/Asset Cost Lss 64 68 Expected return on assets Gain/loss on assets (25) (4) Amortization of: Prior service cost Net gain/ loss (8) Loss on PBO Contributions to fund (27) 27 (62) Retiree benefits paid (47) 47 84 (598) (298) 300...
The following information incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC)....
The following information incomplete (columns have
missing amounts) pension spreadsheet is for Old Tucson Corporation
(OTC). Fill in the missing amounts and make a journal entry for
annual pension expense.
Pension Expense Cash OCI PSC PBO Plan Asset Pension Gain/Loss Asset/Liability 58,000,000 -500,000,000 Beg Balance Service Cost Interest Cost 62,000,000 Actual Return on Assets | -25,000,000 -2,000,000 6,000,000 25,000,000 Unexpected Gain/Loss Amortization of PSC Net Gain/Loss Loss on PBO Contribution to fund Retiree benefits paid Journal Entries Ending Balance |...
The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First...
The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). Prior Plan Service PBO Assets Cost (600) 37 Net Pension (Liability)/ Asset Net Pension (Gain)/Loss Expense Cash (99) 71 36 77 ($ in millions) Debit (Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance (11) (11) (11) (541...
Required information Problem 17-16 Comprehensive-reporting a pension plan; pension spreadsheet; determine changes in balances; two years...
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)...
Prepare a pension spreadsheet to assist you in determining end of 2018 balances in the PBO,...
Prepare a pension spreadsheet to assist you in determining end
of 2018 balances in the PBO, plan assets, prior service cost—AOCI,
the net loss—AOCI, and the pension liability.
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: $7 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service...
Exercise 17-15 Pension spreadsheet [LO17-8] A partially completed pension spreadsheet showing the relationships among the elements...
Exercise 17-15 Pension spreadsheet [LO17-8] A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2016, the pension formula was amended. creating a prior service cost of $280.000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as...
Check my work Actuary and trustee reports indicate the following changes in the PBO and plan...
Check my work 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) Average remaining service life of the active employee group Actuary's discount rate $40 mi11ion $58 million 10 years 101 ($ in millions) Pla PBO Ass $380 Beginning of...
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit...
A partially completed pension spreadsheet showing the
relationships among the elements that comprise the defined benefit
pension plan of Universal Products is given below. The actuary's
discount rate is 5%. At the end of 2019, the pension formula was
amended, creating a prior service cost of $220,000. The expected
rate of return on assets was 8%, and the average remaining service
life of the active employee group is 20 years in the current year
as well as the previous two...
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit...
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2016, the pension formula was amended, creating a prior service cost of $120,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Plan assets Prior service cost Net (Gain) loss 50 Pension Expenses PBO (460) Cash Net Pension (Liability)/ Asset 50 (19) (1.50) ($ in millions) debit (credit) Beginning Balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain loss LOSS on PBO Contribution to funds Retiree benefits paid Ending balance (3) (21) 21 (44) 35 (35) 266...
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). Prior Net ($ in millions) debit (Credit) Beginning balance Service cost Interest cost Plan PBO Assets (520) Service (Gain) Pension Net Pension Expense Cash (Liability)/Asset Cost Lss 64 68 Expected return on assets Gain/loss on assets (25) (4) Amortization of: Prior service cost Net gain/ loss (8) Loss on PBO Contributions to fund (27) 27 (62) Retiree benefits paid (47) 47 84 (598) (298) 300...
The following information incomplete (columns have
missing amounts) pension spreadsheet is for Old Tucson Corporation
(OTC). Fill in the missing amounts and make a journal entry for
annual pension expense.
Pension Expense Cash OCI PSC PBO Plan Asset Pension Gain/Loss Asset/Liability 58,000,000 -500,000,000 Beg Balance Service Cost Interest Cost 62,000,000 Actual Return on Assets | -25,000,000 -2,000,000 6,000,000 25,000,000 Unexpected Gain/Loss Amortization of PSC Net Gain/Loss Loss on PBO Contribution to fund Retiree benefits paid Journal Entries Ending Balance |...
The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). Prior Plan Service PBO Assets Cost (600) 37 Net Pension (Liability)/ Asset Net Pension (Gain)/Loss Expense Cash (99) 71 36 77 ($ in millions) Debit (Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance (11) (11) (11) (541...
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)...
Prepare a pension spreadsheet to assist you in determining end
of 2018 balances in the PBO, plan assets, prior service cost—AOCI,
the net loss—AOCI, and the pension liability.
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: $7 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service...
Exercise 17-15 Pension spreadsheet [LO17-8] A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2016, the pension formula was amended. creating a prior service cost of $280.000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as...
Check my work 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) Average remaining service life of the active employee group Actuary's discount rate $40 mi11ion $58 million 10 years 101 ($ in millions) Pla PBO Ass $380 Beginning of...
A partially completed pension spreadsheet showing the
relationships among the elements that comprise the defined benefit
pension plan of Universal Products is given below. The actuary's
discount rate is 5%. At the end of 2019, the pension formula was
amended, creating a prior service cost of $220,000. The expected
rate of return on assets was 8%, and the average remaining service
life of the active employee group is 20 years in the current year
as well as the previous two...
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2016, the pension formula was amended, creating a prior service cost of $120,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two...
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