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Presented below is pension information related to Woods, Inc., for the year 2015: $92,000 Service cost...
Presented below is pension information for Sandhill Company for the year 2018: Expected return on plan...
Presented below is pension information for Sandhill Company for the year 2018: Expected return on plan assets $79000 Interest on vested benefits 35000 Service cost 151000 Interest on projected benefit obligation 61000 Amortization of prior service cost due to increase in benefits 66000 The amount of pension expense to be reported for 2018 is $357000. $199000. $175000. $278000.
Question 14 Presented below is pension information for Sheridan Company for the year 2018: Expected return...
Question 14 Presented below is pension information for Sheridan Company for the year 2018: Expected return on plan assets Interest on vested benefits Service cost Interest on projected benefit obligation Amortization of prior service cost due to increase in benefits $64000 37000 143000 52000 63000 The amount of pension expense to be reported for 2018 is $322000. $258000. $153000. $194000.
Presented below is pension information related to Pete, Inc. for the year 2008: Service cost $96,000 Interest on projec...
Presented below is pension information related to Pete, Inc. for the year 2008: Service cost $96,000 Interest on projected benefit obligation (at 6%) 72,000 Amortization of prior service cost 16,000 Expected return (2.4%) on plan assets (Actual return was -4.8%) 24,000 PBO at 1/1/2008 Plan assets fair value at 1/1/2008 Net Loss -AOCI at 1/1/2008 $1,200,000 1,000,000 110,500 The amount of pension expense to be reported for 2008 is A. $144,000 OB. $192,000 OC. $216,000 OD. $160,000
Problem 2. Measuring and recording pension expense. Presented below is information related to the pension plan...
Problem 2. Measuring and recording pension expense. Presented below is information related to the pension plan of Zimmer Inc. for the year 2017. The service cost related to pension expense is $240,000 using the projected benefits approach. 2 The projected benefit obligation and the accumulated benefit obligation at the beginning of the year are $300,000 and $200,000, respectively. The expected return on plan assets is 9% and the settlement rate is 10%. 3 The accumulated OCI-prior service cost at the...
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan...
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2020 and 2021. 2020 2021 Plan assets (fair value), December 31 $699,000 $849,000 Projected benefit obligation, January 1 700,000 800,000 Pension asset/liability, January 1 140,000 Cr. ? Prior service cost, January 1 250,000 240,000 Service cost 60,000 90,000 Actual and expected return on plan assets 24,000 30,000 Amortization of prior service cost 10,000 12,000 Contributions (funding) 115,000 120,000 Accumulated benefit obligation,...
u U lic SCELTUI 201). Problem 2. Measuring and recording pension expense. Presented below is information...
u U lic SCELTUI 201). Problem 2. Measuring and recording pension expense. Presented below is information related to the pension plan of Zimmer Inc. for the year 2017. 1 The service cost related to pension expense is $240,000 using the projected benefits approach. 2 The projected benefit obligation and the accumulated benefit obligation at the beginning of the year are $300,000 and $200,000, respectively. The expected return on plan assets is 9% and the settlement rate is 10%. 3 The...
Question 6 The following information is related to the pension plan of Gamekeeper, Inc. for 2017:...
Question 6 The following information is related to the pension plan of Gamekeeper, Inc. for 2017: Actual return on plan assets Amortization of net gain Amortization of prior service cost due to increase in benefits Expected return on plan assets Interest on projected benefit obligation Service cost $335,000 132,000 240,000 368,000 580,000 1,295,000 Pension expense for 2017 is $1,615,000. $1,927,000. $1,165,000. O $1,894,000.
Presented below is information related to Marina Comp, Inc. pension plan for 2013. Accumulated benefit obligation...
Presented below is information related to Marina Comp, Inc. pension plan for 2013. Accumulated benefit obligation (at year-end) $600,000 Service cost 520,000 Funding contribution for 2013 480,000 Settlement rate used in actuarial computation 10% Expected return on plan assets 9% Amortization of PSC (due to benefit increase) 100,000 Amortization of net gains 48,000 Projected benefit obligation (at beginning of period) 450,000 Fair value of plan assets (at beginning of...
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year...
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year ending December 31, 2018: Service cost for 2018 Accumulated benefit obligation Plan assets at fair value Accumulated OCI (PSC) Vested benefit obligation Market-related asset value Projected benefit obligation Accumulated OCI net gain Interest on projected benefit obligation $ 45,000 683,000 630,000 300,000 505,000 725,000 865,000 90,000 64,000 Instructions (a) Calculate the pension asset / liability to be recorded at December 31, 2018. (b) Calculate...
Intermediate Accounting 303 Gordon Company sponsors a defined benefit pension plan. The following information related to...
Intermediate Accounting 303 Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011. 2010 2011 Plan assets (fair value), December 31 $699,000 $849,000 Projected benefit obligation, January 1 700,000 800,000 Pension asset/liability, January 1 140,000Cr ? Prior service cost, January 1 250,000 240,000 Service cost 60,000 90,000 Actual and expected return on plan assets 24,000 30,000 Amortization of prior service cost 10,000 12,000 Contributions (funding) 115,000 120,000 Accumulated...
Question 14 Presented below is pension information for Sheridan Company for the year 2018: Expected return on plan assets Interest on vested benefits Service cost Interest on projected benefit obligation Amortization of prior service cost due to increase in benefits $64000 37000 143000 52000 63000 The amount of pension expense to be reported for 2018 is $322000. $258000. $153000. $194000.
Presented below is pension information related to Pete, Inc. for the year 2008: Service cost $96,000 Interest on projected benefit obligation (at 6%) 72,000 Amortization of prior service cost 16,000 Expected return (2.4%) on plan assets (Actual return was -4.8%) 24,000 PBO at 1/1/2008 Plan assets fair value at 1/1/2008 Net Loss -AOCI at 1/1/2008 $1,200,000 1,000,000 110,500 The amount of pension expense to be reported for 2008 is A. $144,000 OB. $192,000 OC. $216,000 OD. $160,000
Problem 2. Measuring and recording pension expense. Presented below is information related to the pension plan of Zimmer Inc. for the year 2017. The service cost related to pension expense is $240,000 using the projected benefits approach. 2 The projected benefit obligation and the accumulated benefit obligation at the beginning of the year are $300,000 and $200,000, respectively. The expected return on plan assets is 9% and the settlement rate is 10%. 3 The accumulated OCI-prior service cost at the...
u U lic SCELTUI 201). Problem 2. Measuring and recording pension expense. Presented below is information related to the pension plan of Zimmer Inc. for the year 2017. 1 The service cost related to pension expense is $240,000 using the projected benefits approach. 2 The projected benefit obligation and the accumulated benefit obligation at the beginning of the year are $300,000 and $200,000, respectively. The expected return on plan assets is 9% and the settlement rate is 10%. 3 The...
Question 6 The following information is related to the pension plan of Gamekeeper, Inc. for 2017: Actual return on plan assets Amortization of net gain Amortization of prior service cost due to increase in benefits Expected return on plan assets Interest on projected benefit obligation Service cost $335,000 132,000 240,000 368,000 580,000 1,295,000 Pension expense for 2017 is $1,615,000. $1,927,000. $1,165,000. O $1,894,000.
#4 Velasquez Company has available the following information about its defined-benefit pension plan for the year ending December 31, 2018: Service cost for 2018 Accumulated benefit obligation Plan assets at fair value Accumulated OCI (PSC) Vested benefit obligation Market-related asset value Projected benefit obligation Accumulated OCI net gain Interest on projected benefit obligation $ 45,000 683,000 630,000 300,000 505,000 725,000 865,000 90,000 64,000 Instructions (a) Calculate the pension asset / liability to be recorded at December 31, 2018. (b) Calculate...
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