Reference no: EM13753322
The following facts pertain to the ABC Company's pension plan for 2012. Expected return on plan assets is 15%, the FMV of plan assets, on January1,2012 is $100,000, the GMV on December 31, 2012 is $130,000, contribution to pension plan was $14,000 and the benefits paid to retired employees was $8,000.
Requirement: Determine the actual return on plan assets components of net pension cost for 2012. Assume contribution and benefits payments were made at year-end.
Refer to question 1, consider the following information as of teh beginning of 2012. The projected benefit obligation or PBO was $135,000, the accumulated gain (loss) in other comprehensive income (OCI) was $20,000 and the average remaining service period of active employees is 20 years.
Requirement:
a. Determine the difference between the actual and expected return on plan assets for 2012
b. Determine the amortization of the net gain or loss accumulated in OCI.
c. Determine the gain or loss recognized as a component of pension cost in 2012.
d. Determine the accumulated gain or loss that would be carried forward in OCI in 2013
|
Compute for each year the accounts receivable turnover
: The following data are taken from the financial statements of Rainsberger Company. 2015 2014 Accounts receivable (net), end of year $550,000 $520,000 Net sales on account 3,960,000 3,100,000 Terms for all sales are 1/10, n/60. Collapse question part ..
|
|
Operational description of anticipated operations
: Which of the following managerial functions involves a detailed financial and operational description of anticipated operations?
|
|
Best described as choosing among available alternatives
: Which of the following functions is best described as choosing among available alternatives?
|
|
About managerial accountants
: Which of the following statements about managerial accountants is false?
|
|
Actual return on plan assets components of net pension cost
: Determine the actual return on plan assets components of net pension cost for 2012. Assume contribution and benefits payments were made at year-end.
|
|
Cost of goods manufactured for the year
: West Shoe Company makes loafers. During the most recent yeat, West incurred total manufacturing cost of $19,400,000. Of this amount, $2,100,000 was direct materials used and $12,800,000 was direct labor. Cost of raw materials purchased to determine
|
|
Differences between accounting income and taxable income
: Bateman Light began operations in 20X1. The company sometimes sells used warehouses on an instalment basis. In those cases, Bateman Light reports income in its income statement in the year of the sale, In its income tax return, though Bateman Light r..
|
|
What will the variable expense per unit be
: The selling price of a particular product is $38.00 per unit, fixed costs total $175,000, and the breakeven sales in dollars is $875,000, what will the variable expense per unit be?
|
|
Recognizes revenue upon contract completion
: A construction company entered into a fixed-price contract to build an office building for $18 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. The buil..
|