On January 1, 2017, Roca Co. has the following balances: Projected benefit obligation $3,730,000 Fair value of plan assets 3,340,000 The settlement rate is 10%. Other data related to the pension plan for 2017 are: Service cost $334,000 Amortization of unrecognized prior service costs 78,000 Contributions 390,000 Benefits paid 150,500 Actual return on plan assets 338,100 Amortization of unrecognized net gain 33,400 The balance of the projected benefit obligation for Roca at December 31, 2017 is

On January 1, 2017, Roca Co. has the following balances: Projected benefit obligation $3,730,000 Fair value of plan assets 3,340,000 The settlement rate is 10%. Other data related to the pension plan for 2017 are: Service cost $334,000 Amortization of unrecognized prior service costs 78,000 Contributions 390,000 Benefits paid 150,500 Actual return on plan assets 338,100 Amortization of unrecognized net gain 33,400 The balance of the projected benefit obligation for Roca at December 31, 2017 is

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 3RE: Pinecone Company has plan assets of 500,000 at the beginning of the current year and expects to earn...

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Pinecone Company has plan assets of 500,000 at the beginning of the current year and expects to earn 12% on its plan assets during the year. Pinecones service cost is 230,000, and its interest cost is 55,000. Compute Pine-cones pension expense for the current year.
On January 1, 2017, Makoto Co. has the following balances: Projected benefit obligation $2,730,000 Fair value of plan assets 2,340,000 The settlement rate is 10%. Other data related to the pension plan for 2017 are: Service cost $234,000 Amortization of unrecognized prior service costs 77,600 Contributions 390,400 Benefits paid 140,500 Actual return on plan assets 304,500 Amortization of unrecognized net gain 27, 800 The balance of the projected benefit obligation at December 31, 2017 is
On January 1, 2017, Makoto Co. has the following balances: Projected benefit obligation $2,730,000 Fair value of plan assets 2,340,000 The settlement rate is 10%. Other data related to the pension plan for 2017 are: Service cost $234,000 Amortization of unrecognized prior service costs 77,600 Contributions 390,400 Benefits paid 140,500 Actual return on plan assets 304,500 Amortization of unrecognized net gain 27, 800
Blossom Company provides the following information about its defined benefit pension plan Service cost $ 91,800 Contribution to the plan 103,500 Prior service cost amortization 9,400 Actual and expected return on plan assets Benefits paid Plan assets at anuary 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount (settlement) rate 63,200 39,700 647,900 712,300 147,400 10 % Compute the pension expense for the year 2017.
On January 1, 2026, Pharoah Co. has the following balances: Projected benefit obligation Fair value of plan assets Service cost The settlement rate is 11%. Other data related to the pension plan for 2026 are: $3650000 Amortization of prior service costs Contributions Benefits paid Actual return on plan assets Amortization of net gain 2350000 $3173000. $988000. O $1650000. O $3010000. $ 340000 90000 465000 190000 385000 18000 The fair value of plan assets disclosed in the notes at December 31, 2026 is
On January 1, 2015, Parks Co. has the following balances: Projected benefit obligation $4,200,000 Fair value of plan assets 3,480,000 The settlement rate is 10%. Other data related to the pension plan for 2015 are: Service cost $226,000 Amortization of prior service costs 54,000 Contributions 270,000 Benefits paid 250,000 Actual return on plan assets 264,000 Amortization of net gain 18,000 The balance of the projected benefit obligation at December 31, 2015 is a. 4,494,000 b. 4,596,000 c. 4,860,000 d. 4,610,000 The fair value of plan assets at December 31, 2015 is a. 3,506,000 b. 3,764,000 c. 4,034,000 d. 4,284,000
On January 1, 2020, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fair value of plan assets 7,800,000 Other data related to the pension plan for 2020: Service cost 315,000 Contributions to the plan 459,000 Benefits paid 450,000 Actual return on plan assets 444,000 Settlement rate 9% Expected rate of return 6% Instructions (a) Determine the projected benefit obligation at December 31, 2020. There are no net gains or losses. (b) Determine the fair value of plan assets at December 31, 2020. (c) Calculate pension expense for 2020. (d) Prepare the journal entry to record pension expense and the contributions for 2020.
Wildhorse Company provides the following information about it defined benefit pension plan for the year 2025. Service cost $89, 200 Contribution to the plan amortization 10,300 Actual and expected return on plan assets 64, 100 Benefits paid 40, 100 Plan assets at January 1, 2025 632, 500 Projected benefit obligation at January 1, 2025 702,600 Accumulated OCI (PSC) at January 1, 2025 151,200 Interest/discount (settlement) rate 11% Compute the pension expense for the year 2025
On January 1, 2016, J Co. has the following balances: Defined benefit obligation P2,100,000 Fair value of plan assets 1,800,000 The discount rate is 10%. Other data related to the pension plan for 2016 are: Service cost P180,000 Past service costs due to increase in benefits 60,000 Contributions 300,000 Benefits paid 105,000 Actual return on plan assets 237,000 Net gain on liability 18,000 The balance of the defined benefit obligation at December 31, 2016 is
The following information is available for the pension plan of Vaughn Company for the year 2020. Actual and expected return on plan assets $ 14,700 Benefits paid to retirees 40,800 Contributions (funding) 81,100 Interest/discount rate 10 % Prior service cost amortization 7,600 Projected benefit obligation, January 1, 2020 458,000 Service cost 63,900 (a) Compute pension expense for the year 2020. Pension expense for 2020 $enter pension expense for 2017 in dollars Save for Later Attempts: 0 of 1 used Submit Answer (b)
On January 1, 2016, Jr Co. has the following balances: Defined benefit obligation P2,100,000 Fair value of plan assets 1,800,000 The discount rate is 10%. Other data related to the pension plan for 2016 are: Service cost P180,000 Past service costs due to increase in benefits 60,000 Contributions 300,000 Benefits paid 105,000 Actual return on plan assets 237,000 Net gain on liability 18,000 The balance of the defined benefit obligation at December 31, 2016 is
The following information is related to the defined-benefit pension plan of a company for 2021. Amortization of OCI-gain $87,700 Amortization of OCI-prior service cost 151,000Contributions to the plan 235,000Interest on projected benefit obligation 363,000Service cost 550,890Expected return on plan assets 258,000Actual return on plan assets is the sameas expected return 258,000Benefits distributed 148,000 Pension expense for 2021 is $__________.

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bartleby, a Learneo, Inc. business

Projected benefit obligation	$3,730,000
Fair value of plan assets	3,340,000

Service cost	$334,000
Amortization of unrecognized prior service costs	78,000
Contributions	390,000
Benefits paid	150,500
Actual return on plan assets	338,100
Amortization of unrecognized net gain	33,400