Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need to be able to find Net Pension Asset/Liability. If you could please show all calculations :) Thanks! PBO 1/1/Y1 $4,875,000 FVPA 1/1/Y1 $4,000,000
I need to be able to find Net Pension Asset/Liability. If you could please show all calculations :) Thanks!
| PBO 1/1/Y1 | $4,875,000 |
| FVPA 1/1/Y1 | $4,000,000 |
| OCI-PSC 1/1/Y1 | $500,000 |
| OCI-G/L 1/1/Y1 | $10,000 |
| Service cost | $1,020,000 |
| Contribution | $800,000 |
| Benefits | $300,000 |
| Actual rate of return | $180,000 |
| Expected rate of return | 5% |
| Settlement rate | 8% |
| Amortization of prior service cost | $255,000 |
| Amortization of gain/loss | $0 |
| Actuarial gain/loss | $0 |
Pension Expense = $1,465,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Create Wealth How You Can Ditch The 9 5 Job With Multifamily Investing
Authors: Pam Scamardo
1st Edition
979-8986637709
