Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Benefit obligation, 1 January 20X6 $ 81,000 Current service cost for 20X6 22,000 SFP Accrued net OPEB liability, 1 January, 20X6 17,000 Accumulated OCI, OPEBs,

Benefit obligation, 1 January 20X6 $ 81,000
Current service cost for 20X6 22,000
SFP Accrued net OPEB liability, 1 January, 20X6 17,000
Accumulated OCI, OPEBs, 1 January 20X6, loss 35,000
Fund assets, 1 January 20X6 64,000
Contributions to the benefit fund for 20X6 - paid 1 April 10,200
Benefit payments to retired employees for 20X6 evenly over year 18,000
Actual return on fund assets 550
Yield rate on long-term corporate bonds 8 %

With this information, how would i calculate projected obligation? OPEB expense? Net OPEB? Accumulate OCI OPEB?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

11th edition

978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139

Students also viewed these Accounting questions