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Kieso, Intermediate Accounting, 17e Help System Announcements Exercise 20-09 (Part Level Submission) Sarasota Enterprises provides the...
Exercise 20-09 (Part Level Submission) Sarasota Enterprises provides the following information relative to its defined benefit...
Exercise 20-09 (Part Level Submission) Sarasota Enterprises provides the following information relative to its defined benefit pension plan. $2,721,600 1,981,200 2,282,900 209,800 45,300 438,700 Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability Other pension plan data for 2020: Service cost Prior service cost amortization Actual return on plan assets Expected return on plan assets Interest on January 1, 2020,...
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benefit plan for its 100 employees. On J...
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benefit plan for its 100 employees. On January 1, 2017, the company's actuary provided the following information Accumulated other comprehensive loss (PSC) $152,900 Pension plan assets (fair value and market-related asset value) 196,600 Accumulated benefit obligation 256,600 Projected benefit obligation 380,500 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan on December 31, 2017, the actuary calculated...
Exercise 20-11 (Part Level Submission) Culver Company sponsors a defined benefit pension plan for its employees....
Exercise 20-11 (Part Level Submission) Culver Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2017 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2017 amounted to $56,200. 2. The company's funding policy requires a contribution to the pension trustee amounting to $146,676 for 2017. 3. As of January 1, 2017, the company...
Exercise 20-11 (Part Level Submission) Larkspur Company sponsors a defined benefit pension plan for its employees....
Exercise 20-11 (Part Level Submission) Larkspur Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2020 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $55,500. 2. The company's funding policy requires a contribution to the pension trustee amounting to $137,228 for 2020. 3. As of January 1, 2020, the company...
Exercise 20-3 (Part Level Submission) Splish Company provides the following information about its defined benefit pension...
Exercise 20-3 (Part Level Submission) Splish Company provides the following information about its defined benefit pension plan for the year 2017. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount settlement) rate $91,300 102,900 9,500 64,800 39,400 648,700 694,400 150,900 9% (a) Prepare a pension worksheet inserting January 1,...
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benet plan for its 100 employees....
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benet plan for its 100 employees. On January 1, 2017, the company's actuary provided the following information Accumulated other comprehensive loss (PSC) $152,900 Pension plan assets (fair value and market-related asset value) 196,600 Accumulated benefit obligation 256,600 Projected benefit obligation 380,500 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2017, the actuary calculated...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees....
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
Return to Blackboard BLUS Kieso, Intermediate Accounting, 17e Help System Announcements Open Assignment CALCULATOR PRINTER VERSION...
Return to Blackboard BLUS Kieso, Intermediate Accounting, 17e Help System Announcements Open Assignment CALCULATOR PRINTER VERSION Brief Exercise 4-02 ment Your answer is incorrect. 4-05 4-OZ 4-08 Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2020. Expel were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000 expense $45,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock a and 70,000 shares issued and outstanding during 2020. Prepare a...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
Exercise 20-18 (Part Level Submission) The accounting staff of Bramble Inc. has prepared the following pension...
Exercise 20-18 (Part Level Submission) The accounting staff of Bramble Inc. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2017 Determine the missing amounts in the 2017 pension worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.) Pension -Bramble Inc. Plan Assets Annual Pension oCI-Prior Service Cost...
Exercise 20-09 (Part Level Submission) Sarasota Enterprises provides the following information relative to its defined benefit pension plan. $2,721,600 1,981,200 2,282,900 209,800 45,300 438,700 Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability Other pension plan data for 2020: Service cost Prior service cost amortization Actual return on plan assets Expected return on plan assets Interest on January 1, 2020,...
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benefit plan for its 100 employees. On January 1, 2017, the company's actuary provided the following information Accumulated other comprehensive loss (PSC) $152,900 Pension plan assets (fair value and market-related asset value) 196,600 Accumulated benefit obligation 256,600 Projected benefit obligation 380,500 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan on December 31, 2017, the actuary calculated...
Exercise 20-11 (Part Level Submission) Culver Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2017 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2017 amounted to $56,200. 2. The company's funding policy requires a contribution to the pension trustee amounting to $146,676 for 2017. 3. As of January 1, 2017, the company...
Exercise 20-11 (Part Level Submission) Larkspur Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2020 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $55,500. 2. The company's funding policy requires a contribution to the pension trustee amounting to $137,228 for 2020. 3. As of January 1, 2020, the company...
Exercise 20-3 (Part Level Submission) Splish Company provides the following information about its defined benefit pension plan for the year 2017. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount settlement) rate $91,300 102,900 9,500 64,800 39,400 648,700 694,400 150,900 9% (a) Prepare a pension worksheet inserting January 1,...
Problem 20-3 (Part Level Submission) Cullumber Company sponsors a defined benet plan for its 100 employees. On January 1, 2017, the company's actuary provided the following information Accumulated other comprehensive loss (PSC) $152,900 Pension plan assets (fair value and market-related asset value) 196,600 Accumulated benefit obligation 256,600 Projected benefit obligation 380,500 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2017, the actuary calculated...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
Return to Blackboard BLUS Kieso, Intermediate Accounting, 17e Help System Announcements Open Assignment CALCULATOR PRINTER VERSION Brief Exercise 4-02 ment Your answer is incorrect. 4-05 4-OZ 4-08 Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2020. Expel were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000 expense $45,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock a and 70,000 shares issued and outstanding during 2020. Prepare a...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
Exercise 20-18 (Part Level Submission) The accounting staff of Bramble Inc. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2017 Determine the missing amounts in the 2017 pension worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.) Pension -Bramble Inc. Plan Assets Annual Pension oCI-Prior Service Cost...
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