Solution-Assume the net pension expense for 2011

Assume the net pension expense for 2011

Reference no: EM131002742

Herring Wholesale Company has a defined benefit pension plan. On January 1, 2011, the following pension-related data were available:
The rate of return on plan assets during 2011 was 9%, although it was expected to be 10%. The actuary revised assumptions regarding the PBO at the end of the year, resulting in a $23,000 decrease in the estimate of that obligation.

Required:

1. Calculate any amortization of the net gain that should be included as a component of net pension expense for 2011.

2. Assume the net pension expense for 2011, not including the amortization of the net gain component, is $325,000. What is pension expense for the year?

3. Determine the net loss-AOCI or net gain-AOCI as of January 1, 2012.

Reference no: EM131002742

Questions Cloud

Design new software to keep track of people : Your local police department wants to design new software to keep track of people, property, and criminal activity. List at least three classes you think should be in the design. For each class, identify some data members and methods.

What is the probability that he makes both attempts : A basketball player makes 60% of the free throws that he attempts, except that if he has just tried and missed a free throw then his chances of making a second one go down to only 30%. What is the probability that he makes both attempts

Projected benefit obligation : Calculate each of the following amounts as of both December 31, 2011, and December 31, 2012:

Your favorite action hero or heroine : Write a person essay about your favorite action hero or heroine. Drawn from comics, television shows or computer games, why does this figure appeal to you?

Assume the net pension expense for 2011 : Assume the net pension expense for 2011, not including the amortization of the net gain component, is $325,000. What is pension expense for the year?

How many milligrams of se were contained : After this reaction is complete, nitric acid was added to dissolve the Ag2SO3 but not the Ag2Se. The Ag+ from the dissolved Ag2SO3 and the excess reagent required 16.71 mL of 0.01370 M KSCN in a Volhard titration. How many milligrams of Se were conta..

To ensure the correct level of components are selected : From your understanding of this week's readings and video, what are the top three internal computer system components that need to be considered with selecting a personal computer? Why?

Critical review of a current debate in project management : Critical review of a current debate in project management literature, Select a current debate in project management literature.

Explain misuse of statistics described in this article : Read the "Law of Averages" article. Explain in two or three sentences the misuse of statistics described in this article

User Account

All Pages

Assume the net pension expense for 2011

Reference no: EM131002742

Reference no: EM131002742

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT