Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2024. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The actual return was also 10% In 2024 and 2025.* A consulting firm, engaged as actuary, recommends 6% as the appropriate discount rate. The service cost is $200,000 for 2024 and $300,000 for 2025. Year-end funding is $210,000 for 2024 and $220,000 for 2025. No assumptions or estimates were revised during 2024. *We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the estimate didn't change, that also was the actual rate in 2025. Required: Calculate each of the following amounts as of both December 31, 2024, and December 31, 2025: Note: Enter your answers in thousands (l.e., 200,000 should be entered as 200). Enter a llability as a negative amount. December 31, 2024 December 31, 2025 1. Projected benefit obligation S 200 2. Plan assets S 210 3. Pension expense $ 200 4. Net pension asset (liability) S (10)

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2024. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The actual return was also 10% in 2024 and 2025.* A consulting firm, engaged as actuary, recommends 6% as the appropriate discount rate. The service cost is $250,000 for 2024 and $380,000 for 2025. Year-end funding is $260,000 for 2024 and $270,000 for 2025. No assumptions or estimates were revised during 2024. *We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the estimate didn't change, that also was the actual rate in 2025. Required: Calculate each of the following amounts as of both December 31, 2024, and December 31, 2025: Note: Enter your answers in thousands (i.e., 200,000 should be entered as 200). Enter a liability as a negative amount. 1.…

Wildhorse Limited follows ASPE, and the company sponsors a defined benefit pension plan. Wildhorse's actuary provides the following information about the plan (in thousands of dollars): Vested benefit obligation Defined benefit obligation, accounting basis Plan assets (fair value) Interest/discount rate Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2023 Service cost for the year 2023 Contributions (funding) 2023 Benefits paid in 2023 Actual return on the plan assets in 2023 $ Net defined benefit liability , January 1, 2023 January 1, 2023 $ $1,500 2,340 Calculate the actual return on the plan assets in 2023. (Enter answers in thousands of dollars.) LA 1,360 170000 10% ? December 31, 2023 $1,530 3,124 2,080 174000 10% ? Calculate the amount of the net defined benefit liability/asset as at January 1, 2023. (Enter answers in thousands of dollars.) 380 320 700 150

Blossom Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets (market-related value)   $480,000   Projected benefit obligation   650,000   Pension asset/liability   170,000  Cr. Prior service cost   80,000   Net gain or loss (debit)   85,000   As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020. Service cost   $99,000   Settlement rate, 9%; expected return rate, 10%       Actual return on plan assets   42,000   Amortization of prior service cost   25,000   Contributions   124,000   Benefits paid retirees   82,000   Average remaining service life of active employees   10  years Using the preceding data, compute pension expense for Blossom Corp. for the year 2020 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.)   PLEASE FIX THE INCORRECT…

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in thousands) Projected benefit obligation Plan assets Prior service cost-AOCI Net loss-AOCI Multiple Choice $530 thousand. $648 thousand. At the end of 2021, Havana contributed $670 thousand to the pension fund and benefit payments of $624 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO. What is Havana's 2021 actual return on plan assets? $1,154 thousand. 2021 Beginning balances $(6,300) 6,060 630 750 None of these are correct. $ 2022 Beginning balances $ (6,804) 6,636 565 816

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The actual return was also 10% in 2021 and 2022.* A consulting firm, engaged as actuary, recommends 5% as the appropriate discount rate. The service cost is $140,000 for 2021 and $220,000 for 2022. Year-end funding is $150,000 for 2021 and $160,000 for 2022. No assumptions or estimates were revised during 2021. * We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the estimate didn't change, that also was the actual rate in 2022. Required: Calculate each of the following amounts as of both December 31, 2021, and December 31, 2022: (Enter your answers in thousands (i.e., 200,000 should be entered as 200).) 1. Projected benefit obligation 2. Plan assets 3.…

Meman

Please need answer for all with full working please answer all with steps computation explanation formula please answer all    Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2024. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The actual return was also 10% in 2024 and 2025.* A consulting firm, engaged as actuary, recommends 5% as the appropriate discount rate. The service cost is $160,000 for 2024 and $210,000 for 2025. Year-end funding is $170,000 for 2024 and $180,000 for 2025. No assumptions or estimates were revised during 2024. *We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the estimate didn't change, that also was the actual rate in 2025. Required: Calculate each of the following amounts as of both December 31, 2024, and December 31, 2025:…

The following information pertains to a defined benefit pension plan that Arora Inc. sponsors in 2020. PBO balance, January 1, 2020 $160,000 Service cost 19,000 Interest cost 11,200 Prior service cost adjustment based on past service, January 1, 2020 30,000 Amortization of prior service cost 3,000 Actuarial gain on PBO 6,000 Benefits paid to retirees 2,500 Contributions to plan 18,000 What is the PBO balance on December 31, 2020? Select one: a. $228,700 b. $216,700 c. $211,700 d. $193,700

Sarasota Company provides the following information about its defined benefit pension plan for the year 2020. Service cost   $ 88,500   Contribution to the plan   107,100   Prior service cost amortization   10,600   Actual and expected return on plan assets   63,100   Benefits paid   40,800   Plan assets at January 1, 2020   648,000   Projected benefit obligation at January 1, 2020   688,100   Accumulated OCI (PSC) at January 1, 2020   148,600   Interest/discount (settlement) rate   11 % Compute the pension expense for the year 2020. Pension expense for 2020   $enter the Pension expense for 2020 in dollars