The whole problem goes together

QUESTION 15 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to 55.000.000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year .. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan, t. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. The employer's contribution to the plan assets amounted to $575.000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: The Service Cost for 2021 is: QUESTION 16 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. c. on December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025.000 respectively d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan, 1. The present value of benefits attributed by the pension benefit foemula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to 5575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: The impact of Service Cost on Comprehensive Income for the current year is: A Service cost doesn't impact comprehensive income, it impacts POO. B. 15200,000 average service years C.30 D.(1200.000) QUESTION 17 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and 54,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to 5575,000 in 2021, h. This problem assumes no payment of pension benefits to retirees, Question: The settlement rate and the expected rate of return are the same for Widjaja, but which one is used to determine the interest cost? A expected rate of return B. neither the discount rate' is properly used C. the higher of the settlement rate vs. the expected rate of return D. settlement rate QUESTION 18 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be 54,750,000 and 54.025.000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, & The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: Interest cost for 2021 is determined to be: QUESTION 19 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1,2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to 55,000,000 and the fair value of pension plan assets was $3,000,000 t. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3.900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000, The employer's contribution to the plan assets amounted to 5525,000 in 2021. n. This problem assumes no payment of pension benefits to retirees Question: How much return on plan assets was actually earned from the pension trust in 2021? QUESTION 20 Use the following information for questions 15-29 Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & b about the pension plan on lanuary 12021 is as follows: a. The company has 200 employees. Al these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years B. The Pea amounted to 55,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and A80 to be $4,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575,000 in 2021 h. This problem assumes no payment of pension benefits to retirees Question: What is the net effect of prior service cost amortization on pension expense in 2021? State the amount. QUESTION 21 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the far value of pension plan assets was $3,000,000. c On December 31, 2021. an actuary determined the PBO and ABO to be $4,750,000 and $4.025.000 respectively d. The tair value of the pension plan assets amounted to $3,900.000 at the end of the year, t. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. & The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees, Question: What is the net effect of the prior service cost amortization in 2021 on comprehensive income. State the amount. QUESTION 22 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 g. The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: What is the net effect of prior service cost amortization on retained earnings in 2021. State the amount. QUESTION 23 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. The employer's contribution to the plan assets amounted to $575,000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: During 2021, Widjaja experienced an: A Unexpected gain of $25.000 OB. Unexpecteed gain of $900,000 C. Unexpected loss 5250,000 D. there was no unexpected gain or loss QUESTION 24 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period Other relevant information in parts a & babout the pension plan on lauay.1.2021 is as follows: 2. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3,900.000 at the end of the year, c. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the person benefit formula to employee service in 2021 amounted to $200,000. 8. The employee's contribution to the plan assets amounted to $575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: What is the net effect of the increase in unexpected gain (loss) on net income (earnings) for 2021? State the amount: QUESTION 25 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021, an actuary determined the PBO and ABO to be 54,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $2,900,000 at the end of the year. 6. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, & The employer's contribution to the plan assets amounted to 5575.000 in 2021 h. This problem assumes no payment of person benefits to retirees. Question: What is the net effect of the increase in unexpected gain (loss) on Comprehensive Income for 2021? State the amount: Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. 6. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021. an actuary determined the PBO and ABO to be 54,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575.000 in 2021 h This problem assumes no payment of pension benefits to retirees, Question: In the journal entry to record pension expense at 12/31/21 the account pension liability is debited in the amount of: QUESTION 27 Use the following information for questions 15-29 Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021. an actuary determined the PBO and AB to be $4,750,000 and 84,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan 6. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: For the year ended 2022 (the subsequent year) is there any impact to pension expense related to the OCI/PSC? A. No 8 Yesamortization increases it Yes: amortiration decreases it QUESTION 28 Use the following information for questions 15-29. Widjaja inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January.1.2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5.000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021. an actuary determined the PBO and ABO to be s4.750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, The employer's contribution to the plan assets amounted to 5375.000 in 2021 This problem assumes no payment of pension benefits to retirees. Question: For the year ended 2022, what is the amount of the corridor? Use the following information for questions 15 29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on lanuary.1.2021 is as follows: a. The company has 200 employees. Al these employees are expected to receive benefits under the plan. The average remaining service life per employees 13 years 6. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and 54,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. & A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000 & The employer's contribution to the plan assets amounted to $575.000 in 2021. h. This problem assumes no payment of pension benefits to retirees Question: For the year ended 2022, is there any impact to pension expense related to the ocI/GI(L)? A. Yes, increase it B. No because amount needs to wait a year C. Yesl decrease it D.No; because amount isn't bigger than corridor QUESTION 15 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to 55.000.000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year .. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan, t. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. The employer's contribution to the plan assets amounted to $575.000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: The Service Cost for 2021 is: QUESTION 16 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. c. on December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025.000 respectively d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan, 1. The present value of benefits attributed by the pension benefit foemula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to 5575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: The impact of Service Cost on Comprehensive Income for the current year is: A Service cost doesn't impact comprehensive income, it impacts POO. B. 15200,000 average service years C.30 D.(1200.000) QUESTION 17 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and 54,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to 5575,000 in 2021, h. This problem assumes no payment of pension benefits to retirees, Question: The settlement rate and the expected rate of return are the same for Widjaja, but which one is used to determine the interest cost? A expected rate of return B. neither the discount rate' is properly used C. the higher of the settlement rate vs. the expected rate of return D. settlement rate QUESTION 18 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be 54,750,000 and 54.025.000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, & The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: Interest cost for 2021 is determined to be: QUESTION 19 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1,2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. b. The PBO amounted to 55,000,000 and the fair value of pension plan assets was $3,000,000 t. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3.900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000, The employer's contribution to the plan assets amounted to 5525,000 in 2021. n. This problem assumes no payment of pension benefits to retirees Question: How much return on plan assets was actually earned from the pension trust in 2021? QUESTION 20 Use the following information for questions 15-29 Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & b about the pension plan on lanuary 12021 is as follows: a. The company has 200 employees. Al these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years B. The Pea amounted to 55,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and A80 to be $4,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575,000 in 2021 h. This problem assumes no payment of pension benefits to retirees Question: What is the net effect of prior service cost amortization on pension expense in 2021? State the amount. QUESTION 21 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the far value of pension plan assets was $3,000,000. c On December 31, 2021. an actuary determined the PBO and ABO to be $4,750,000 and $4.025.000 respectively d. The tair value of the pension plan assets amounted to $3,900.000 at the end of the year, t. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. & The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees, Question: What is the net effect of the prior service cost amortization in 2021 on comprehensive income. State the amount. QUESTION 22 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 g. The employer's contribution to the plan assets amounted to $575,000 in 2021. h. This problem assumes no payment of pension benefits to retirees. Question: What is the net effect of prior service cost amortization on retained earnings in 2021. State the amount. QUESTION 23 Use the following information for questions 15-29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000. The employer's contribution to the plan assets amounted to $575,000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: During 2021, Widjaja experienced an: A Unexpected gain of $25.000 OB. Unexpecteed gain of $900,000 C. Unexpected loss 5250,000 D. there was no unexpected gain or loss QUESTION 24 Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021. cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period Other relevant information in parts a & babout the pension plan on lauay.1.2021 is as follows: 2. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3,900.000 at the end of the year, c. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. f. The present value of benefits attributed by the person benefit formula to employee service in 2021 amounted to $200,000. 8. The employee's contribution to the plan assets amounted to $575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: What is the net effect of the increase in unexpected gain (loss) on net income (earnings) for 2021? State the amount: QUESTION 25 Use the following information for questions 15-29. Widjaja Inc, has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021, an actuary determined the PBO and ABO to be 54,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $2,900,000 at the end of the year. 6. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan f. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, & The employer's contribution to the plan assets amounted to 5575.000 in 2021 h. This problem assumes no payment of person benefits to retirees. Question: What is the net effect of the increase in unexpected gain (loss) on Comprehensive Income for 2021? State the amount: Use the following information for questions 15-29. Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan on 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years. 6. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021. an actuary determined the PBO and ABO to be 54,750,000 and $4,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. 1. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575.000 in 2021 h This problem assumes no payment of pension benefits to retirees, Question: In the journal entry to record pension expense at 12/31/21 the account pension liability is debited in the amount of: QUESTION 27 Use the following information for questions 15-29 Widjaja Inc. has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period, Other relevant information in parts a & babout the pension plan on January 1, 2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 On December 31, 2021. an actuary determined the PBO and AB to be $4,750,000 and 84,025,000 respectively, d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. e. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan 6. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200,000 The employer's contribution to the plan assets amounted to $575.000 in 2021 h. This problem assumes no payment of pension benefits to retirees. Question: For the year ended 2022 (the subsequent year) is there any impact to pension expense related to the OCI/PSC? A. No 8 Yesamortization increases it Yes: amortiration decreases it QUESTION 28 Use the following information for questions 15-29. Widjaja inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on January.1.2021 is as follows: a. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 13 years b. The PBO amounted to $5.000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021. an actuary determined the PBO and ABO to be s4.750,000 and $4,025,000 respectively d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year, A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000, The employer's contribution to the plan assets amounted to 5375.000 in 2021 This problem assumes no payment of pension benefits to retirees. Question: For the year ended 2022, what is the amount of the corridor? Use the following information for questions 15 29. Widjaja Inc has sponsored a noncontributory defined benefit pension plan for its employees since 1998. Prior to 2021, cumulative net pension expense recognized equaled cumulative contributions to the plan. On 1/1/21 an amendment was made to the pension to reward work from a previous period. Other relevant information in parts a & babout the pension plan on lanuary.1.2021 is as follows: a. The company has 200 employees. Al these employees are expected to receive benefits under the plan. The average remaining service life per employees 13 years 6. The PBO amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000 c. On December 31, 2021, an actuary determined the PBO and ABO to be $4,750,000 and 54,025,000 respectively. d. The fair value of the pension plan assets amounted to $3,900,000 at the end of the year. & A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2021 amounted to $200.000 & The employer's contribution to the plan assets amounted to $575.000 in 2021. h. This problem assumes no payment of pension benefits to retirees Question: For the year ended 2022, is there any impact to pension expense related to the ocI/GI(L)? A. Yes, increase it B. No because amount needs to wait a year C. Yesl decrease it D.No; because amount isn't bigger than corridor