At the end of the current year kennedy co has a defined

Reference no: EM13571953

1. At the end of the current year, Kennedy Co. has a defined benefit obligation of £335,000 and pension plan assets with a fair value of £245,000. The amount of the vested benefits for the plan is £225,000. Kennedy has unrecognized past service costs of £24,000 and an unrecognized actuarial gain of £8,300. What account and amount(s) related to its pension plan will be reported on the company's statement of financial position?

A. pension liability and £74,300

B. pension liability and £90,000

C. pension asset and £233,300

D. pension asset and £110,000

2. Brompton Ltd. is evaluating amendments to its pensions plans. Plan 1 covers its salaried employees and Plan 2 provides benefits to its hourly workers. On January 1, 2012, Brompton will grant employees in Plan 2 additional pension benefits of €318,000 based on their past service. Employees in this plan have an average period to vesting of 6 years. Plan 1 will be amended to reduce benefits by €160,000 (in exchange, employees will receive increased contributions to the company's defined contribution plan). Employees in this plan have an average period to vesting of 5 years. What is the total unrecognized past service cost amortization for 2012?

A. €43,455

B. €85,000

C. €36,933

D. €21,000

Reference no: EM13571953

Questions Cloud

Samuelson and messenger sampm began 2013 with 200 units of : samuelson and messenger sampm began 2013 with 200 units of its one product. these units were purchased near the end of

At what rate of interest would jane being different between : an insurance company promises to pay jane 1 million on her65th birthday in return for one-time payment of 131400

Calculate the after-tax cost of borrowing from the boat : rick and stacy stark a married couple are interested in purchasing their first boat. they have decided to borrow the

Prepare the necessary journal entries on december 28 and : on december 28 2013 videotech corporation purchased 10 units of a new satellite uplink system from tristar

At the end of the current year kennedy co has a defined : 1. at the end of the current year kennedy co. has a defined benefit obligation of pound335000 and pension plan assets

During may all direct materials are transferred from : the inventory at may 1 and the costs charged to work in process-department b during may for stella company are as

Claypools personnel counted the inventory on hand and : clay pooll hardwares is only hardware store in a remote area of northern minnesota. some of claypools tranactions

She is willing to invest a lump sum today and leave the : misty needs to have 15000 at the end of 5 years to fulfill her goal of purchasing a small sailboat. she is willing to

Some people prefer to take a position in a company and work : some people prefer to take a position in a company and work for the company. other people think it is better to go into

User Account

All Pages