FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Can i get help with the last 3? 

Required: Fill in the blanks lettered (a) through (k). Enter amounts as positive numbers. (a) $ 600,000 v (b) 10 v % (c) $ 60,000 (d) $ 800 (e) $ 108,800 (f) $ 105,000 V (g) $ 64,800 V (h) $ 67,650 (i) $ (j) $ (k) $
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Transcribed Image Text:Required: Fill in the blanks lettered (a) through (k). Enter amounts as positive numbers. (a) $ 600,000 v (b) 10 v % (c) $ 60,000 (d) $ 800 (e) $ 108,800 (f) $ 105,000 V (g) $ 64,800 V (h) $ 67,650 (i) $ (j) $ (k) $
Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2016 and 2017 is as follows: 2016 2017 Service cost $100,000 (G) Interest cost on projected benefit obligation 54,000 (g) Discount rate 9% 9% Amortization of prior service cost 4,000 4,000 Plan assets (fair value), 1/1* 500,000 615,000 Projected benefit obligation, 1/1** (a) 720,000 Expected long-term rate of return on plan assets (b) 11% Amortization of net loss (d) 700 Accrued pension cost (liability), 12/31 (f) (k) Average service life of employees 10 years 10 years Pension expense (e) 110,850 Cumulative net loss, 1/1 68,000 (i) Expected return on plan assets 50,000 (h) Corridor (c) 72,000 *1/1/2018: $762,000 **1/1/2018: $857,800
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Transcribed Image Text:Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2016 and 2017 is as follows: 2016 2017 Service cost $100,000 (G) Interest cost on projected benefit obligation 54,000 (g) Discount rate 9% 9% Amortization of prior service cost 4,000 4,000 Plan assets (fair value), 1/1* 500,000 615,000 Projected benefit obligation, 1/1** (a) 720,000 Expected long-term rate of return on plan assets (b) 11% Amortization of net loss (d) 700 Accrued pension cost (liability), 12/31 (f) (k) Average service life of employees 10 years 10 years Pension expense (e) 110,850 Cumulative net loss, 1/1 68,000 (i) Expected return on plan assets 50,000 (h) Corridor (c) 72,000 *1/1/2018: $762,000 **1/1/2018: $857,800
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