The actuaries for Interconnect Cable Company provided its accountants with the following information related to the company's
Question:
The actuaries for Interconnect Cable Company provided its accountants with the following information related to the company's pension plan:
Instructions:
Based on the data provided, prepare a pension work sheet for Interconnect Cable Company for 2008. The 5-year weighted-average value of plan assets is used in computing the expectedreturn.
Transcribed Image Text:
(in thousands) December 31, 2007: in PBO arising from plan's amendment. $ 684 Increase January 1, 2008: $2.700 $2,420 $1,860 Market-related value of the pension fund (5-year weighted average)$.600 $ 226 10% Fair value of the pension fund pension cost Settlement discount rate Average service life for amortization of gain and prior service costs 14 years $ 70 Unamortized pension gain Expected rate of return prior year For Year 2008: Benefit payments to retirees... $ 173 December 31,2008: $2.917 2,137 Fair value of pension plan assets
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COMPUTATIONS a 2008 service cost Projected benefit obligation Dec 31 2008 2917 Less Projected benefi...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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