Question
9,The following data are for the pension plan for the employees of Cullumber Company. 1/1/20 12/31/20 12/31/21 Accumulated benefit obligation $ 5100000 $ 5300000 $
9,The following data are for the pension plan for the employees of Cullumber Company.
| 1/1/20 | 12/31/20 | 12/31/21 | ||||||||||
| Accumulated benefit obligation | $ | 5100000 | $ | 5300000 | $ | 6900000 | ||||||
| Projected benefit obligation | 5500000 | 5700000 | 7500000 | |||||||||
| Plan assets (at fair value) | 4700000 | 6100000 | 6700000 | |||||||||
| AOCL net loss | 0 | 969000 | 1010000 | |||||||||
| Settlement rate (for year) | 11% | 10% | ||||||||||
| Expected rate of return (for year) | 9% | 7% | ||||||||||
Cullumbers contribution was $850000 in 2021 and benefits paid were $760000. Cullumber estimates that the average remaining service life is 10 years. The corridor for 2021 was $610000. The amount of AOCI-net loss amortized in 2021 was
$35900.
$101000.
$96900.
$41900.
10.A single lease expense is recognized on the income statement for
an operating lease.
a finance lease.
both a finance lease and an operating lease.
neither a finance lease or an operating lease.
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The Digital Transformation Of Auditing And The Evolution Of The Internal Audit
Authors: Nabyla Daidj
1st Edition
1032103914, 978-1032103914
