Carla Vista Corp. provides the following information about its post-retirement health-care benefit plan for the year 2023: Current service cost Contribution to the plan Actual return on plan assets Benefits paid Plan assets at January 1, 2023 $204,000 47,850 142,400 85,000 1.599.500 Defined post-retirement benefit obligation at January 1, 2023 1,819,000 Discount rate 9%

Only typed solution

Only typed solution

Current Attempt in Progress Headland Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2020 $2,463,000 Fair value of pension plan assets, December 31, 2020 2,815,000 Contributions to the plan in 2020 262,000 Benefits paid retirees in 2020 328,000 From the data above, compute the actual return on the plan assets for 2020. Actual return on plan assets for 2020 %24

Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2021: Service cost Accumulated postretirement benefit obligation, January 1 Plan assets (fair value), January 1 Prior service cost-AOCI Net gain-AOCI (2021 amortization, $2) Retiree benefits paid (end of year) Contribution to health care benefit fund (end of year) Discount rate, 8% Return on plan assets (actual and expected), 10% Required: 1. Determine the postretirement benefit expense for 2021. 2. Prepare the appropriate journal entries to record the (a) postretirement benefit expense, (b) funding, and (c) retiree benefits for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the postretirement benefit expense for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Postretirement benefit expense ($ in thousands) $ ($ in thousands) $ 136 700 30 none 100 88 200

Happy Woolly Inc. provides the following information about its postretirement benefit plan for the year 2019. (In Euros) Service cost €90,000 Contribution to the plan €56,000 Actual return on plan assets €2,000 Benefits paid € 40,000 Plan assets at January 1, 2019 €710,000 Defined postretirement benefit obligation at January 1, 2019 €760,000 Accumulated OCI (Loss) at January 1, 2019 100 (Dr-Loss) Discount (interest) rate 9% Required: Compute the postretirement benefit expense for 2019 and give your explanation!

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2024 are as follows: ($ millions) $470 300 PBO balance, January 1 Plan assets balance, January 1 Service cost Interest cost Gain from change in actuarial assumption Benefits paid Actual return on plan assets Contributions 2024 The expected long-term rate of return on plan assets was 6%. There were no AOCI balances related to pensions on January 1, 2024, but at the end of 2024, the company amended the pension formula, creating a prior service cost of $12 million. Required: 1. Calculate the pension expense for 2024. 2. Prepare the journal entries to record (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of benefits for 2024. 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3…

The following data are available pertaining to Household Appliance Company's retiree health care plan for 2021:      Number of employees covered   2   Years employed as of January 1, 2021   3 [each] Attribution period   20 years Expected postretirement benefit obligation, Jan. 1 $ 60,000   Expected postretirement benefit obligation, Dec. 31 $ 63,000   Interest rate   5 % Funding   none      Required:1. What is the accumulated postretirement benefit obligation at the beginning of 2021?2. What is interest cost to be included in 2021 postretirement benefit expense?3. What is service cost to be included in 2021 postretirement benefit expense?4. Prepare the journal entry to record the postretirement benefit expense for 2021.

Current Attempt in Progress Bramble Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $ 90,300 Contribution to the plan 106,800 Prior service cost amortization 9,600 Actual and expected return on plan assets 63,800 Benefits paid 39,700 Plan assets at January 1, 2020 629,900 Projected benefit obligation at January 1, 2020 706,100 Accumulated OCI (PSC) at January 1, 2020 150,800 Interest/discount (settlement) rate 10 % Compute the pension expense for the year 2020. Pension expense for 2020 $ %24

Sunland Company provides the following information about its defined benefit pension plan for the year 2025. Service cost $91,400 Contribution to the plan 102,900 Prior service cost amortization 9,600 Actual and expected return on plan assets 64,900 Benefits paid 40,600 Plan assets at January 1, 2025 632,300 Projected benefit obligation at January 1, 2025 686,100 Accumulated OCI (PSC) at January 1, 2025 147,300 Interest/discount (settlement) rate 11% Compute the pension expense for the year 2025. Pension expense for 2025 :$__?__