2. 3. A company with a DB pension plan achieves actual return of 6.50%. Benefits paid to retirees was $18,720. If beginning plan assets was $279,400 and ending plan assets was $309,400, cash contributions totaled For the current year, a company with a DB pension plan has service cost $90,000; benefits paid $30,000; and loss on PBO of $11,400. Assuming an ending PBO of $721,400 and interest rate of 4.00%, the beginning PBO balance was ABC reports the following year-end balances: deferred tax asset $75,800; deferred tax liability $62,600; valuation allowance $36,384. The year-end balance sheet will include a net deferred tax liability of For the year, ABC has taxable income $446,680. At year-end, ABC calculated an increase in a deferred tax asset of $45,760 and an increase in a deferred tax liability of $31,800. Assuming a tax rate of 25%, income tax expense is In 2020, ABC generated installment sales income of $58,400 (all on account). Cash is expected to be collected in the following years: in 2021, $7,300; in 2022, $29,200; and in 2023, $ 21,900. Assume a tax rate of 22% in 2020 and 27% beginning in 2023. The balance of the deferred tax account at the end of 2020 is 4. . 5