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Please check the attached file, and fill out all the yellow boxes. If you can show all the steps that would be better. 1. 2.
Please check the attached file, and fill out all the yellow boxes. If you can show all the steps that would be better.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10 UH II dll UI LIIU WUIK yUU IICIVU UUIIU 3U ICII Ih LUI IULL, yULI Illdy [IUL IICIVU LUIIIPIULUU UVUIyLIIIIIy. 1 value: ' 5.00 points The projected benet obligation was $380 million at the beginning of the year and $385 million at the end of the year. Service cost for the year was $21 million. At the end of the year, pension benets paid by the trustee were $17 million. The actuary's discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years. What was the amount of the gain or loss the estimate change caused? Answer is complete but not entirely correct Gain J $ 17x million 6. uu u: u\". u-u-n ,Uu IIHIIo uuuu. an n." I..- Hullssun, Jvu \"ou nun. \"use. HUIIIPIHLHH avail-nun\". value: 10.00 points On January 1, 2016, Burleson Corporation's projected benet obligation was $41 million. During 2016 pension benets paid by the trustee were $6 million. Service cost for 2016 is $15 million. Pension plan assets (at fair value) increased during 2016 by $8 million as expected. At the end of 2016, there was no prior sewice cost and a negligible balance in net lossAOCI. The actuary's discount rate was 10%. Required: Determine the amount of the projected benet obligation at December 31, 2016. (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct Beginning of 2016 Senrioe cost Interest cost Actual return on assets Retiree benets End of 2016 ren if all ofthe work you have done so far is correct, you may not have completed everything. 8 value: O 15.00 points Pension data for Barry Financial Services Inc. include the following: ($ in 0003) Discount rate, 7% Expected return on plan assets, 12% Actual return on plan assets, 11% Service cost, 2016 $ 480 January 1, 2016: Projected benet obligation 3,150 Accumulated benet obligation 2,850 Plan assets (fair value) 3,250 Prior service costAOCI (2016 amortization, $50) 410 Net gainAOCI (2016 amortization, $12) 500 There were no changes in actuarial assumptions. December 31, 2016: Cash contributions to pension fund, December 31, 2016 415 Benet payments to retirees, December 31, 2016 440 (For all requirements, enter your answers in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5).) Required: 1. Determine pension expense for 2016. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct $ 480w max (390.0\" Amortization of prior service cost _ Amortization of net gain J (12.0\" s amStep by Step Solution
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