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The projected benefit obligation was $196200 at the beginning of the year. Service cost for the year was $32896. At the end of the year, pension benefits paid by the trustee were $36307. In addition, amortization of net gain was $2933. The actuary's discount rate was 5%. The actual return on plan assets was $7248 although it was expected to be only $4148. What was the pension expense for the year? Selected Answer: [None Given] Correct Answer: 35,6252 lestion 2 0 out of 0.5 points The Daniel Verde Company (DVC) sponsors a defined benefit pension plan. The following information pertains to that plan: What is DVC's pension expense for 2020? Selected Answer: [None Given] Correct Answer: 25,3432 lestion 3 0 out of 0.5 points On January 1, 2018, Oil Trading Co.'s defined benefit pension plan had plan assets with a fair value of $850,000, and a projected benefit obligation of $775,000. In addition: Actual and expected return on plan assets - 6% Interest cost 8% Service costs - $25633 Unamortized prior service cost $141358 Employer contributions to the plan $55707 Distributions to employees from the plan - $43436 Assuming that amortization of prior service cost is $13883, how much will Oil Trading Co. recognize as pension expense for 2018? Selected Answer: [None Given] Correct Answer: 50,5162 Harper Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $220604; benefits paid to retirees, $58111; interest cost, $12320. There was no amortization of any prior service costs or amortization of gains/losses. The discount rate applied by the actuary was 8%. What was the beginning PBO? Selected Answer: [None Given] Correct Answer: 154,000 The projected benefit obligation was $196200 at the beginning of the year. Service cost for the year was $32896. At the end of the year, pension benefits paid by the trustee were $36307. In addition, amortization of net gain was $2933. The actuary's discount rate was 5%. The actual return on plan assets was $7248 although it was expected to be only $4148. What was the pension expense for the year? Selected Answer: [None Given] Correct Answer: 35,6252 lestion 2 0 out of 0.5 points The Daniel Verde Company (DVC) sponsors a defined benefit pension plan. The following information pertains to that plan: What is DVC's pension expense for 2020? Selected Answer: [None Given] Correct Answer: 25,3432 lestion 3 0 out of 0.5 points On January 1, 2018, Oil Trading Co.'s defined benefit pension plan had plan assets with a fair value of $850,000, and a projected benefit obligation of $775,000. In addition: Actual and expected return on plan assets - 6% Interest cost 8% Service costs - $25633 Unamortized prior service cost $141358 Employer contributions to the plan $55707 Distributions to employees from the plan - $43436 Assuming that amortization of prior service cost is $13883, how much will Oil Trading Co. recognize as pension expense for 2018? Selected Answer: [None Given] Correct Answer: 50,5162 Harper Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $220604; benefits paid to retirees, $58111; interest cost, $12320. There was no amortization of any prior service costs or amortization of gains/losses. The discount rate applied by the actuary was 8%. What was the beginning PBO? Selected Answer: [None Given] Correct Answer: 154,000
