On January 1st, 2018 United Company provides the following information related to its pension plan for...
On January 1st, 2018 United Company provides the following information related to its pension plan for the year ending December, 31, 2018
Plan assets, 1/1/2018 ………………………………………………….. 200,000 A
nnual service cost ……………………………………………………… 60,000
Settlement rate …………………………………………………………… 10%
Projected benefit obligation, 1/1/2018 …………………………………. 200,000
Funding contributions during 2018 ………………………………………. 40,000
Benefits paid to retirees during 2018 ……………………………………. 30,000
Plan assets, 12/31/2018 ………………………………………………….. 250,000
Prepare a journal entry on 12/31/2018 to record pension expense for 2018
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On January 1st, 2018 United Company provides the following
information related to its pension plan for...
Problem 9 On January 15, 2018 United Company provides the following information related to its pension...
Problem 9 On January 15, 2018 United Company provides the following information related to its pension plan for the year ending December, 31, 2018 200,000 Plan assets, 1/1/2018 Annual service cost ... 60,000 Settlement rate .............. 10% 200,000 40,000 Projected benefit obligation, 1/1/2018 ......... Funding contributions during 2018 .. Benefits paid to retirees during 2018 ... Plan assets, 12/31/2018 30,000 250,000 Prepare a journal entry on 12/31/2018 to record pension expense for 2018
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The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 - credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets...
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Intermediate Accounting 303 Gordon Company sponsors a defined benefit pension plan. The following information related to...
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The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $600,000...
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Captiva Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with...
Captiva Company adopts acceptable accounting for its defined
benefit pension plan on January 1, 2016, with the following
beginning balances: plan assets $600,000; projected benefit
obligation $600,000. Other data relating to 3 years’ operation of
the plan are shown below:
Instructions
(a) Prepare a pension worksheet
presenting all 3 years’ pension balances and activities.
Use of Excel is REQUIRED.
(b) Prepare the journal entries (from
the worksheet) to reflect all pension plan transactions and events
at December 31 of each...
Ayayai Company provides the following selected information related to its defined benefit pension plan for 2020....
Ayayai Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $26,800 Cr. Accumulated benefit obligation (December 31) 397,500 Actual and expected return on plan assets 10,900 Contributions (funding) in 2020 150,200 Fair value of plan assets (December 31) 793,000 Settlement rate 10% Projected benefit obligation (January 1) 699,000 Service cost 79,300 Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Ayayal...
Problem 9 On January 15, 2018 United Company provides the following information related to its pension plan for the year ending December, 31, 2018 200,000 Plan assets, 1/1/2018 Annual service cost ... 60,000 Settlement rate .............. 10% 200,000 40,000 Projected benefit obligation, 1/1/2018 ......... Funding contributions during 2018 .. Benefits paid to retirees during 2018 ... Plan assets, 12/31/2018 30,000 250,000 Prepare a journal entry on 12/31/2018 to record pension expense for 2018
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...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 -credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid to retirees Prior service...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1 - credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $ 600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1-credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid...
The following information applies to Riddle Corp.'s defined benefit pension plan for the current year: $600,000 540,000 60,000 150,000 Projected benefit obligation January 1 (before amendment) Plan assets January 1 Pension Asset/Liability, January 1-credit balance Present value of increase in service benefits effective January 1 because of an amendment in the pension plan (not included in the projected benefit obligation above) Settlement rate Contributions to the plan (funding) Service Cost Actual and expected return on plan assets Benefits paid to...
Captiva Company adopts acceptable accounting for its defined
benefit pension plan on January 1, 2016, with the following
beginning balances: plan assets $600,000; projected benefit
obligation $600,000. Other data relating to 3 years’ operation of
the plan are shown below:
Instructions
(a) Prepare a pension worksheet
presenting all 3 years’ pension balances and activities.
Use of Excel is REQUIRED.
(b) Prepare the journal entries (from
the worksheet) to reflect all pension plan transactions and events
at December 31 of each...
Ayayai Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $26,800 Cr. Accumulated benefit obligation (December 31) 397,500 Actual and expected return on plan assets 10,900 Contributions (funding) in 2020 150,200 Fair value of plan assets (December 31) 793,000 Settlement rate 10% Projected benefit obligation (January 1) 699,000 Service cost 79,300 Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Ayayal...
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