{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:22:15-04:00", "answer_date": "2024-06-28 07:22:15", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4262557", "url": "\/study-help\/questions\/flint-inc-has-a-defined-benefit-plan-for-additional-problem-4262557", "question_creation_date_js": "2024-06-28T07:22:15-04:00", "question_creation_date": "Jun 28, 2024 07:22 AM", "meta_title": "[Solved] Flint Inc. has a defined benefit plan for | SolutionInn", "meta_description": "Answer of - Flint Inc. has a defined benefit plan for Additional Problem 12 (Part Level Submission) Flint Inc. has a defined benef | SolutionInn", "meta_keywords": "flint,inc,defined,benefit,plan,additional,problem,12,part,level,submission,employees", "question_title_h1": "Flint Inc. has a defined benefit plan for Additional Problem 12 (Part Level Submission) Flint Inc. has a defined benefit plan for its employees. On", "question_title": "Flint Inc. has a defined benefit plan for Additional Problem 12 (Part", "question_title_for_js_snippet": "Flint Inc has a defined benefit plan for Additional Problem 12 (Part Level Submission) Flint Inc has a defined benefit plan for its employees On December 31, 2016 the company's records showed the following information related to the plan Pension plan assets $843,000 Defined benefit obligation 941,000 All employees are expected to receive benefits under the plan The company's actuary provided the following information as at December 31, 2017 Current year service cost $171,000 Past service benefits, granted July 1, 2017 30,000 Defined benefit obligation 1,041,000 Discount rate 5 Actual return on assets 6 Contributions for the year 257,000 Benefits paid to retirees 127,000 (a) Calculate pension expense for Flint Inc for 2017, assuming ASPE is used Pension expense, 2017 $", "question_description": "

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\"image<\/div><\/div><\/div> Additional Problem 12 (Part Level Submission) Flint Inc. has a defined benefit plan for its employees. On December 31, 2016 the company's records showed the following information related to the plan: Pension plan assets $843,000 Defined benefit obligation 941,000 All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2017: Current year service cost $171,000 Past service benefits, granted July 1, 2017 30,000 Defined benefit obligation 1,041,000 Discount rate 5% Actual return on assets 6% Contributions for the year 257,000 Benefits paid to retirees 127,000 (a) Calculate pension expense for Flint Inc. for 2017, assuming ASPE is used. Pension expense, 2017 $", "transcribed_text": "", "related_book": { "title": "Managerial Accounting Tools for Business Decision Making ", "isbn": "1118856996, 978-1118856994", "edition": "4th Canadian edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1190.jpg", "uri": "\/textbooks\/managerial-accounting-tools-for-business-decision-making-4th-canadian-edition-1190", "see_more_uri": "" }, "free_related_book": { "isbn": "B003DRNFB8", "uri": "\/textbooks\/politics-and-development-a-critical-introduction-1st-edition-b003drnfb8-286170", "name": "Politics And Development A Critical Introduction", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:22:15", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/a-new-partner-enters-a-partnership-and-goodwill-is-calculated", "description": "A new partner enters a partnership and goodwill is calculated and credited to the original partners. 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