Bonita Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with...
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Bonita Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $202.300, projected benefit obligation $252.000. Other data relating to 3 years operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/20) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2021, projected benefit obligation of: * 2019 $16,000 10 % 18.200 16,000 13,900 2020 $19,300 10 % 22.260 40,100 16,000 163,000 53,700 2021 $26,200 10 % 24.500 48.200 21.000 41,600 512,100 Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.) Bonita Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $202.300, projected benefit obligation $252.000. Other data relating to 3 years operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/20) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2021, projected benefit obligation of: * 2019 $16,000 10 % 18.200 16,000 13,900 2020 $19,300 10 % 22.260 40,100 16,000 163,000 53,700 2021 $26,200 10 % 24.500 48.200 21.000 41,600 512,100 Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.)
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Answer rating: 100% (QA)
Calculate the net periodic pension cost Year 2019 Service cost 16000 Interest cost Beginning PBO Settlement rate 252000 10 25200 Expected return on pl... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
Posted Date:
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