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Tamarisk Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $197,500; projected benefit
Tamarisk Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $197,500; projected benefit obligation $248,000. Other data relating to 3 years operation of the plan are as follows.
WP = Fall 2019, ACCT 3620 > Assignments > Chapter 20 HW Assignment Chapter 20 HW Assignment Send to Gradebook --46 Question 8 View Policies Current Attempt in Progress Tamarisk Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $197.500; projected benefit obligation $248,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/17) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2018, projected benefit obligation of: 2016 $16,000 10% 17,900 16,000 14,100 2017 $19,400 10% 21,730 39.600 16,200 157,600 55,200 2018 $25,800 10% 23,800 48,400 21,300 42,400 518.500 Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.) TAMARISK COMPANY WP = Fall 2019, ACCT 3620 > Assignments > Chapter 20 HW Assignment Chapter 20 HW Assignment Send to Gradebook --46 Question 8 View Policies Current Attempt in Progress Tamarisk Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $197.500; projected benefit obligation $248,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/17) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2018, projected benefit obligation of: 2016 $16,000 10% 17,900 16,000 14,100 2017 $19,400 10% 21,730 39.600 16,200 157,600 55,200 2018 $25,800 10% 23,800 48,400 21,300 42,400 518.500 Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.) TAMARISK COMPANY
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