Question
instrument has a non-contributory decline benefit pension plan. On December 31st 2018 the intervals fiscal year the following pension related data were available balance January
instrument has a non-contributory decline benefit pension plan. On December 31st 2018 the intervals fiscal year the following pension related data were available
balance January one 2018 700 million dollars service cost 72 million interest cost, discount rate, 5% 35 million gain due to changes and actual assumption in 2018 -19 million pension benefits paid -35 million balance December 31 2018 753 million
plan assets
balance January one 2018 720 million actual return I'm plan assets 45 million expected return on plan assets 50 million cash contributions 86 million pension benefits paid -35 million balance December Thirty-One 2018 816 million
January one 2018 balances pension asset 20 million prior service cost amortization 7 million per year 35 million netgain OAC I any amortization over 10 years 112 million
required 1-3 prepare the 2018 journal entry to record pension expense to record any 2018 gains and losses and the contribution to plan assets and benefit payments to retirees
4. determine the balances at December 31st 2018 in the PBO, plan assets, and the net gain aoci, and prior service cost aoci.
5. what amount will Beale report and its 2018 balance sheet as a net pension asset or net pension liability for the funded status of the plan?
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