Question
Question 17 On January 1, 2018, Parks Co. have the following balances: Projected benefit obligation $5,600,000 Fair value of plan assets $5,000,000 The settlement rate
Question 17
On January 1, 2018, Parks Co. have the following balances:
Projected benefit obligation $5,600,000
Fair value of plan assets $5,000,000
The settlement rate is 10%. Other data related to the pension plan for 2018 are:
Service cost $320,000
Amortization of prior service costs $72,000
Contributions $360,000
Benefits paid $335,000
Return on plan assets $352,000
The balance of the projected benefit obligation at December 31, 2018 is
#17. The balance of the projected benefit obligation at December 31, 2018 is $
Question 18
On January 1, 2018, Parks Co. have the following balances:
Projected benefit obligation $5,600,000
Fair value of plan assets $5,000,000
The settlement rate is 10%. Other data related to the pension plan for 2018 are:
Service cost $320,000
Amortization of prior service costs $72,000
Contributions $360,000
Benefits paid $335,000
Return on plan assets $352,000
The value of plan assets at December 31, 2018 is
#18. The value of plan assets at December 31, 2018 is
Question 19
On January 1, 2018, Parks Co. have the following balances:
Projected benefit obligation $5,600,000
Fair value of plan assets $5,000,000
The settlement rate is 10%. Other data related to the pension plan for 2018 are:
Service cost $320,000
Amortization of prior service costs $72,000
Contributions $360,000
Benefits paid $335,000
Return on plan assets $352,000
The Funded Status of this pension at December 31, 2018 is (Indicate underfunded or overfunded and amount)
#19. The funded status at December 31, 2018 is (Overfunded or underfunded and amount)
Question #20
The following information pertains to Hopson Co.'s pension plan:
Actuarial estimate of projected benefit obligation at 1/1/18 $82,000
Assumed discount rate (Interest rate) 10%
Service costs for 2018 $23,000
Pension benefits paid during 2018 $15,000
If no change in actuarial estimates occurred during 2018, Hopson's projected benefit obligation at December 31, 2018 was
Hopson's projected benefit obligation at December 31, 2018 was $
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
