Question
Wildhorse Corp. reports the following information (in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2020: Actual return on
Wildhorse Corp. reports the following information (in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2020:
Actual return on plan assets | $15 | Current service cost | $30 | |||
---|---|---|---|---|---|---|
Benefits paid to retirees | 11 | Interest cost | 10 | |||
Contributions from employer | 25 | Opening balance, defined benefit obligation (DBO) | 96 | |||
Cost of plan amendment in year | 11 | Opening balance, plan assets | 104 |
Defined benefit obligation, ending balance = $136 Provide a continuity schedule for the plan assets for the year. (Enter liabilities and underfunded answer amounts using either a negative sign preceding the number e.g. -55 or parentheses e.g. (55).)
Wildhorse Corp. Continuity Schedule 2020 | |||
---|---|---|---|
select an item Plan Assets, Opening BalanceDefined Benefit ObligationActual Return on Plan AssetsPlans Surplus (Deficit)Plan Assets at Fair ValuePlan Assets, Ending BalanceContributions from EmployerBenefits Paid to Retirees | $enter a dollar amount | ||
select an item Actual Return on Plan AssetsPlan Assets, Ending BalancePlan Assets at Fair ValueBenefits Paid to RetireesContributions from EmployerPlans Surplus (Deficit)Defined Benefit ObligationPlan Assets, Opening Balance | enter a dollar amount | ||
select an item Actual Return on Plan AssetsPlan Assets at Fair ValuePlan Assets, Opening BalancePlans Surplus (Deficit)Plan Assets, Ending BalanceBenefits Paid to RetireesContributions from EmployerDefined Benefit Obligation | enter a dollar amount | ||
select an item Benefits Paid to RetireesPlan Assets, Opening BalanceActual Return on Plan AssetsDefined Benefit ObligationPlan Assets at Fair ValuePlan Assets, Ending BalancePlans Surplus (Deficit)Contributions from Employer | enter a dollar amount | ||
select a summarizing line for the first part Plan Assets, Ending BalancePlan Assets at Fair ValuePlans Surplus (Deficit)Contributions from EmployerDefined Benefit ObligationPlan Assets, Opening BalanceBenefits Paid to RetireesActual Return on Plan Assets | $enter a total amount for the first part | ||
select an item Actual Return on Plan AssetsContributions from EmployerBenefits Paid to RetireesDefined Benefit ObligationPlan Assets, Ending BalancePlan Assets at Fair ValuePlan Assets, Opening BalancePlans Surplus (Deficit) | $enter a dollar amount | ||
select an item Plan Assets, Opening BalancePlans Surplus (Deficit)Plan Assets, Ending BalanceContributions from EmployerActual Return on Plan AssetsBenefits Paid to RetireesPlan Assets at Fair ValueDefined Benefit Obligation | enter a dollar amount | ||
select a closing name for this schedule Defined Benefit ObligationPlans Surplus (Deficit)Benefits Paid to RetireesPlan Assets at Fair ValueActual Return on Plan AssetsContributions from EmployerPlan Assets, Ending BalancePlan Assets, Opening Balance | $enter a total amount for this schedule |
Is the plan in a surplus or a deficit position at the end of the year?
The plan is in a select an option surplusdeficit position. |
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