Homework Answers
|
Beginning PBO = Interest cost/Discount rate applied = 9,100/10% = 91,000 Comment if you face any issues |
|
Add Answer to:
Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO...
22. Hunter Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company receive...
22. Hunter Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the projected benefit obligation (PBO) report from the actuary. The following information was included in the report: beginning PBO, $100,000; ending PBO, $110,000; benefits paid to retirees, $10,000; interest cost, $8,000. The discount rate applied by the actuary was 8%. What was the service cost for the year? a. $2,000. b. $12,000. c. $18,000. d. $92,000.
ABC Inc. received the following report from its actuary at the end of the fiscal year:...
ABC Inc. received the following report from its actuary at the end of the fiscal year: Ending PBO: $110,000; benefits paid to retirees: $10,000; interest cost: $7,200. The discount rate applied by the actuary was 9%. What was the beginning PBO? A) $80,000. B) $90,000. C) $107,200. D) $112,000.
The blank company has a defined benefit pension plan. Pension information for the fiscal years of...
The blank company has a defined benefit pension plan. Pension information for the fiscal years of 2024 and 2025 are presented below ($ in millions) Info from by pension actuary Projected benefit obligation as of December 31, 2023 = $1,800 Prior service cost from plan amendment on January 2, 2024 = $400 (straight line amortization for a 10 year average remaining service period) Service cost for 2024 = $520 Service cost for 2025 = $570 Discount rate used by actuary...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit obligation Balance, January 1, 2018 Service cost Interest cost, discount rate, 54 Gain due to changes in actuarial assumptions in 2018 Pension benefits paid Balance, December 31, 2018 (in millions) $ 540 56 (11) (27) $ 585 ($in millions) $ 560 Plan Assets Balance, January 1, 2018 retual return on plan assets (Expected...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of...
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation ($ in millions) Balance, January 1, 2021 $ 780 Service cost 80 Interest cost, discount rate, 5% 39 Gain due to changes in actuarial assumptions in 2021 (23 ) Pension benefits paid (39 ) Balance, December 31, 2021 $ 837 Plan Assets ($ in millions) Balance, January 1, 2021 $ 820 Actual...
The following information is related to the defined benefit pension plan of Simpson Company for the...
The following information is related to the defined benefit pension plan of Simpson Company for the year: Service cost $ 92,000 Contributions to pension plan 143,000 Benefits paid to retirees 119,000 Plan assets (fair value), January 1 548,000 Plan assets (fair value), December 31 661,000 Actual return on plan assets 89,000 PBO, January 1 835,000 PBO, December 31 891,500 Discount rate 10 % Long-term expected return on plan assets 9 % Assuming no other relevant data exist, what is the...
Beale Management has a noncontributory, defined benefit penslon plan. On December 31, 2018 (the end of...
Beale Management has a noncontributory, defined benefit penslon plan. On December 31, 2018 (the end of Beale's fiscal year), the following penslon-related data were avallable: Projected Benefit obligation Balance, January 1, 2818 (S in millions) $ 740 Service cost 76 Interest cost, discount rate, 5 % 37 Gain due to changes in actuarial assumptions in 2018 Pension benefits paid (21) (37) $ 795 Balance, December 31, 2018 ($ in millions) Plan Assets Balance, January 1, 2818 Actual return on plan...
A company's defined benefit pension plan had a PBO of $265,000 on January 1, 2009. During 2009, pension benefits paid we...
A company's defined benefit pension plan had a PBO of $265,000 on January 1, 2009. During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of the PBO at December 31, 2009, was
The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2018...
The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2018 and 2019 are presented below ($ in millions): Information Provided by Pension Plan Actuary: Projected benefit obligation as of December 31, 2017 = $2,000. Prior service cost from plan amendment on January 2, 2018 = $600 (straight-line amortization for 10-year average remaining service period). Service cost for 2018 = $560. Service cost for 2019 = $610. Discount rate used by actuary on projected benefit...
Fox Company received the following reports of its defined benefit pension plan for the current calendar...
Fox Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $ 690,000 Balance, January 1 365,000 Actual return 69,000 Annual contribution (94,000) Benefits paid $1,030,000 Balance, December 31 $ 560,000 52,000 226,000 (94,000) $ 744,000 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for...
22. Hunter Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the projected benefit obligation (PBO) report from the actuary. The following information was included in the report: beginning PBO, $100,000; ending PBO, $110,000; benefits paid to retirees, $10,000; interest cost, $8,000. The discount rate applied by the actuary was 8%. What was the service cost for the year? a. $2,000. b. $12,000. c. $18,000. d. $92,000.
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit obligation Balance, January 1, 2018 Service cost Interest cost, discount rate, 54 Gain due to changes in actuarial assumptions in 2018 Pension benefits paid Balance, December 31, 2018 (in millions) $ 540 56 (11) (27) $ 585 ($in millions) $ 560 Plan Assets Balance, January 1, 2018 retual return on plan assets (Expected...
Beale Management has a noncontributory, defined benefit penslon plan. On December 31, 2018 (the end of Beale's fiscal year), the following penslon-related data were avallable: Projected Benefit obligation Balance, January 1, 2818 (S in millions) $ 740 Service cost 76 Interest cost, discount rate, 5 % 37 Gain due to changes in actuarial assumptions in 2018 Pension benefits paid (21) (37) $ 795 Balance, December 31, 2018 ($ in millions) Plan Assets Balance, January 1, 2818 Actual return on plan...
Fox Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $ 690,000 Balance, January 1 365,000 Actual return 69,000 Annual contribution (94,000) Benefits paid $1,030,000 Balance, December 31 $ 560,000 52,000 226,000 (94,000) $ 744,000 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for...
Most questions answered within 3 hours.
-
Little’s Law: Val d’Costa is a world famous ski village in the
French Alps. Because of...
asked 22 minutes ago -
Find the absolute error D for the calculation if A + B/C=D A=
9.4 +/- 0.4...
asked 35 minutes ago -
New Air Heating and Cooling, manufactures furnaces and central
air units. The company pride itself on...
asked 49 minutes ago -
A coach uses a new technique to train gymnasts. Seven
gymnasts were randomly selected and their...
asked 2 hours ago -
While rotating the tires on your car you notice a rock [mass =
0.1 Kg] stuck...
asked 4 hours ago -
Using MARS simulator, write MIPS programs according to
the following scenarios: Receive a positive integer number...
asked 6 hours ago -
An object in front of a concave mirror has a real image that is
11.5 cm...
asked 6 hours ago -
Consider the reaction, C3 H8 + O2 --> CO2 + H2O. How many
moles of O2...
asked 8 hours ago -
You and your opponent both roll a fair die. If you both roll the
same number,...
asked 8 hours ago -
In a study of the accuracy of fast food drive-through orders,
Restaurant A had 257 accurate...
asked 8 hours ago -
Identify and describe in detail the four categories of
institutions that could be included in a...
asked 8 hours ago -
In python
class Customer:
def __init__(self, customer_id, last_name, first_name, phone_number, address):
self._customer_id = int(customer_id)
self._last_name =...
asked 9 hours ago