According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds...
According to the FASB, recognition of a liability is required when the projected benefit obligation exceeds the fair value of plan assets. Conversely, when the fair value of plan assets exceeds the projected benefit obligation, the FASB ________.
| requires recognition of an asset |
| requires recognition of an asset if the excess fair value of plan assets exceeds the corridor amount |
| recommends recognition of an asset but does not require such recognition |
| does not permit recognition of an asset |
Homework Answers
According to the FASB,recognition of a liability is required when the projected benefit obligation exceeds the fair value of plan assets. Conversely, when the fair value of plan assets exceeds the projected benefit obligation, the FASB requires recognition of asset.
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According to the FASB, recognition of a liability is required
when the projected benefit obligation exceeds...
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Millions 2016 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 3,958 Service cost...
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JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $45 million, $35 million,...
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Riverbed Corporation has the following balances at December 31, 2017. Projected benefit obligation $2,464,000 Plan assets...
Riverbed Corporation has the following balances at December 31,
2017.
Projected benefit obligation
$2,464,000
Plan assets at fair value
1,823,000
Accumulated OCI (PSC)
1,088,000
What is the amount for pension liability that should be reported on
Riverbed's balance sheet at December 31, 2017?
Pension liability balance at December 31, 2017
$
At January 1, 2017, Blue Company had plan assets of $303,400 and a projected benefit obligation...
At January 1, 2017, Blue Company had plan assets of $303,400 and
a projected benefit obligation of the same amount. During 2017,
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expected return on plan assets were $24,500, contributions were
$19,700, and benefits paid were $16,900.
Prepare a pension worksheet for Blue Company for 2017.
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The projected benefit obligation and plan assets were $80 million and $140 million, respectively, at the...
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The projected benefit obligation and plan assets were $100 million and $140 million, respectively, at the beginning of...
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JDS Foods' projected benefit obligation, accumulated benefit obligation, and plan assets were $50 million, $40 million, and $29 million, respectively, at the end of the year. a. What, if any, pension liability or pension asset must be reported in the balance sheet? b. What, if any, pension liability or pension asset must be reported in the balance sheet if the plan assets were $67 million instead? million million b.
Riverbed Corporation has the following balances at December 31,
2017.
Projected benefit obligation
$2,464,000
Plan assets at fair value
1,823,000
Accumulated OCI (PSC)
1,088,000
What is the amount for pension liability that should be reported on
Riverbed's balance sheet at December 31, 2017?
Pension liability balance at December 31, 2017
$
At January 1, 2017, Blue Company had plan assets of $303,400 and
a projected benefit obligation of the same amount. During 2017,
service cost was $26,700, the settlement rate was 10%, actual and
expected return on plan assets were $24,500, contributions were
$19,700, and benefits paid were $16,900.
Prepare a pension worksheet for Blue Company for 2017.
BLUE COMPANY neral Journal Entrie Memo Record Projected Benefit Plan Assets Pension Pension Items Expense Cash Asset/Liability Obligation Service cost Interest cost Actual...
The projected benefit obligation and plan assets were $80 million and $140 million, respectively, at the beginning of the year. Due primarily to favorable stock market performance in recent years, there also was a net gain of $38 million. On average, employees' remaining service life with the company is 10 years. As a result of the net gain, what was the increase or decrease in pension expense for the year? (Amounts to be deducted should be indicated with a minus...
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