Riverbed Corporation has the following information available concerning its postretirement benefit plan for 2017. Service cost...
Riverbed Corporation has the following information available
concerning its postretirement benefit plan for 2017.
| Service cost | $43,300 | |
| Interest cost | 50,200 | |
| Actual and expected return on plan assets | 28,100 |
Compute Riverbed’s 2017 postretirement expense.
| Postretirement expense 2017 |
$ |
Homework Answers
Sol;-
| post retirement expense | |||||
| Service cost | 43,300 | ||||
| interest cost | 50,200 | ||||
| Actual & expected return on plan assets | -28,100 | ||||
| post retirement expense | 65,400 | ||||
| Post retirement expense 2017 |
$ 65,400 |
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Riverbed Corporation has the following information available
concerning its postretirement benefit plan for 2017.
Service cost...
Brief Exercise 20-11 Bridgeport Corporation has the following information available concerning its postretirement benefit plan for...
Brief Exercise 20-11
Bridgeport Corporation has the following information available
concerning its postretirement benefit plan for 2017.
Service cost
$41,100
Interest cost
48,600
Actual and expected return on plan assets
25,400
Compute Bridgeport’s 2017 postretirement expense.
Postretirement expense 2017
$
Exercise 20-22 Riverbed Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-22
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$86,700
Prior service cost amortization
2,900
Contribution to the plan
53,100
Actual and expected return on plan assets
57,400
Benefits paid
39,800
Plan assets at January 1, 2017
707,800
Accumulated postretirement benefit obligation at January 1,
2017
771,000
Accumulated OCI (PSC) at January 1, 2017
101,000
Dr.
Discount rate
8
%
Compute the postretirement benefit expense for 2017.
Postretirement benefit expense...
Exercise 20-23 Riverbed Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-23
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$88,200
Prior service cost
amortization
2,900
Contribution to the plan
51,400
Actual and expected return on plan
assets
61,900
Benefits paid
38,400
Plan assets at January 1, 2017
699,400
Accumulated postretirement benefit
obligation at January 1, 2017
756,800
Accumulated OCI (PSC) at January 1,
2017
101,900
Dr.
Discount rate
9
%
Prepare a worksheet inserting January 1, 2017, balances, showing
December...
Exercise 20-19 Cullumber Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-19
Cullumber Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$ 42,200
Contribution to the plan
10,200
Actual and expected return on plan assets
11,800
Benefits paid
20,500
Plan assets at January 1, 2017
106,700
Accumulated postretirement benefit obligation at January 1,
2017
354,700
Discount rate
10
%
Compute the postretirement benefit expense for 2017.
Postretirement benefit expense
$
The following information is available for the pension plan of Riverbed company for the year 2017...
The following information is available for the pension plan of Riverbed company for the year 2017 Actual and expected return on plan assets..........$13,800 Benefits paid to retirees..........$36,000 Contributions (funding)..........$88,000 Interest/discount rate..........11% Prior service cost amortization..........$7,900 Projected benefit obligation, January 1, 2017..........$502,000 Service cost..........$59,000 A. Compute pension expense for the year 2017 (show work): $__________ B. Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2017 (using table above) Pension expense..........__________ Cash..........__________ Pension...
Flounder Inc. provides the following information related to its postretirement benefits for the year 2017. Accumulated...
Flounder Inc. provides the following information related to its
postretirement benefits for the year 2017.
Accumulated postretirement benefit obligation at January 1,
2017
$642,600
Actual and expected return on plan assets
36,100
Prior service cost amortization
20,100
Discount rate
9
%
Service cost
86,900
Compute postretirement benefit expense for 2017.
Postretirement benefit expense
$
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year...
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost Prior service cost amortization Contribution to the plan Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Discount rate $99,000 3,100 56,900 64,700 38,400 711,400 761,000 93,100 Dr. 9% Prepare a worksheet inserting January 1, 2017, balances, showing December 31,...
E20-19 (Lo6,7) (Postretireme postretirement benefit plan for the year 2017. nt Benefit Expense Computation) Kreter Co....
E20-19 (Lo6,7) (Postretireme postretirement benefit plan for the year 2017. nt Benefit Expense Computation) Kreter Co. provides the following information about its Service cost Contribution to the plarn Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation $ 45,000 10,000 11,000 20,000 110,000 at January 1, 2017 Discount rate 30,000 8% Instructions Compute the postretirement benefit expense for 2017. *E20-20 (L06,7) (Postretirement Benefit Worksheet) Using the information in E20-19, prepare...
Exercise 20-21 Flint Inc. provides the following information related to its postretirement benefits for the year...
Exercise 20-21
Flint Inc. provides the following information related to its
postretirement benefits for the year 2017.
Accumulated postretirement benefit obligation at January 1,
2017
$773,600
Actual and expected return on plan assets
32,300
Prior service cost amortization
19,600
Discount rate
11
%
Service cost
76,700
Compute postretirement benefit expense for 2017.
Postretirement benefit expense
$
Riverbed Company received the following selected information from its pension plan trustee concerning the operation of...
Riverbed Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2017.
January 1, 2017
December 31, 2017
Projected benefit obligation
$1,523,000
$1,550,000
Market-related and fair value of plan assets
794,000
1,128,400
Accumulated benefit obligation
1,597,000
1,716,400
Accumulated OCI (G/L)—Net gain
0
(202,300
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $77,000 and...
Brief Exercise 20-11
Bridgeport Corporation has the following information available
concerning its postretirement benefit plan for 2017.
Service cost
$41,100
Interest cost
48,600
Actual and expected return on plan assets
25,400
Compute Bridgeport’s 2017 postretirement expense.
Postretirement expense 2017
$
Exercise 20-22
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$86,700
Prior service cost amortization
2,900
Contribution to the plan
53,100
Actual and expected return on plan assets
57,400
Benefits paid
39,800
Plan assets at January 1, 2017
707,800
Accumulated postretirement benefit obligation at January 1,
2017
771,000
Accumulated OCI (PSC) at January 1, 2017
101,000
Dr.
Discount rate
8
%
Compute the postretirement benefit expense for 2017.
Postretirement benefit expense...
Exercise 20-23
Riverbed Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$88,200
Prior service cost
amortization
2,900
Contribution to the plan
51,400
Actual and expected return on plan
assets
61,900
Benefits paid
38,400
Plan assets at January 1, 2017
699,400
Accumulated postretirement benefit
obligation at January 1, 2017
756,800
Accumulated OCI (PSC) at January 1,
2017
101,900
Dr.
Discount rate
9
%
Prepare a worksheet inserting January 1, 2017, balances, showing
December...
Exercise 20-19
Cullumber Co. provides the following information about its
postretirement benefit plan for the year 2017.
Service cost
$ 42,200
Contribution to the plan
10,200
Actual and expected return on plan assets
11,800
Benefits paid
20,500
Plan assets at January 1, 2017
106,700
Accumulated postretirement benefit obligation at January 1,
2017
354,700
Discount rate
10
%
Compute the postretirement benefit expense for 2017.
Postretirement benefit expense
$
Flounder Inc. provides the following information related to its
postretirement benefits for the year 2017.
Accumulated postretirement benefit obligation at January 1,
2017
$642,600
Actual and expected return on plan assets
36,100
Prior service cost amortization
20,100
Discount rate
9
%
Service cost
86,900
Compute postretirement benefit expense for 2017.
Postretirement benefit expense
$
Exercise 20-23 Sunland Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost Prior service cost amortization Contribution to the plan Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Discount rate $99,000 3,100 56,900 64,700 38,400 711,400 761,000 93,100 Dr. 9% Prepare a worksheet inserting January 1, 2017, balances, showing December 31,...
E20-19 (Lo6,7) (Postretireme postretirement benefit plan for the year 2017. nt Benefit Expense Computation) Kreter Co. provides the following information about its Service cost Contribution to the plarn Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation $ 45,000 10,000 11,000 20,000 110,000 at January 1, 2017 Discount rate 30,000 8% Instructions Compute the postretirement benefit expense for 2017. *E20-20 (L06,7) (Postretirement Benefit Worksheet) Using the information in E20-19, prepare...
Exercise 20-21
Flint Inc. provides the following information related to its
postretirement benefits for the year 2017.
Accumulated postretirement benefit obligation at January 1,
2017
$773,600
Actual and expected return on plan assets
32,300
Prior service cost amortization
19,600
Discount rate
11
%
Service cost
76,700
Compute postretirement benefit expense for 2017.
Postretirement benefit expense
$
Riverbed Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2017.
January 1, 2017
December 31, 2017
Projected benefit obligation
$1,523,000
$1,550,000
Market-related and fair value of plan assets
794,000
1,128,400
Accumulated benefit obligation
1,597,000
1,716,400
Accumulated OCI (G/L)—Net gain
0
(202,300
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $77,000 and...
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