User Account

All Pages

Calculate pension expense for metlock inc

Assignment Help Accounting Basics
Reference no: EM133081390

Question - Metlock Inc. has a defined benefit plan for its employees. On December 31, 2019 the company's records showed the following information related to the plan:

Pension plan assets $839,000

Defined benefit obligation 927,000

All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2020:

Current year service cost $175,000

Past service benefits, granted July 1, 2020 29,000

Discount rate 5%

Actual return on assets 6%

Contributions for the year 265,000

Benefits paid to retirees 128,000

Calculate pension expense for Metlock Inc. for 2020, assuming ASPE is used.

Calculate pension expense for Metlock Inc. for 2020, assuming IFRS is used.

Reference no: EM133081390

Questions Cloud

Consolidated omnibus budget reconciliation act : Select one law from Employee Retirement Income Security Act (ERISA), Consolidated Omnibus Budget Reconciliation Act (CORBA),
At what amount is the depreciation expense reported : At what amount is the depreciation expense for this equipment reported on Biomira's income statement for the year ended December 31
How much is the recovery of impairment loss : At December 31, 2019, the fair value of the municipal bonds is P570,000. How much is the recovery of impairment loss, if any
Managed health care quality : Managed Health Care Quality - Address what the selected emerging managed healthcare delivery model has done to improve quality of care.
Calculate pension expense for metlock inc : The company's actuary provided the following information as at December 31, 2020: Calculate pension expense for Metlock Inc
Calculate the predetermined overhead allocation rate : Omicronie Inc., provides project management services in the construction industry for a variety of clients. Calculate the predetermined overhead allocation rate
Why physics is central to understanding our world : Analyze why physics is central to understanding our world.
Explain the role and power of interest groups in politics : Are interest groups too powerful in the United States? What could be done to limit their power? Explain the role and power of interest groups in politics.
What has been experience using the gemba walk : What has been your experience using the gemba walk? What does the research say about the gemba walk at Washington hospital center?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute income from operations

Compute income from operations and Compute the gross profit rate.

  Did you include event c in the spreadsheet

Complete the spreadsheet that follows, using plus (+) for increases and minus (-) for decreases for each account. The first transaction is used as an example. Did you include event (c) in the spreadsheet? Why?  At the end of the current year, has the..

  Using demographic and psychographic variables to define

Assignment OverviewType:Individual Project Unit: Primary Research MethodsDue Date: Mon, 6/6/16Grading Type:Numeric Points Possible: 100 Points Earned: 0Deliverable Length: 2-3 page Word documentView objectives for this assignmentGo To:

  Determine the book value of the investment

Big Bad Company's stock was trading on the open market for $11 per share at the end of the year. Determine the book value of the investment

  Explain two things that should occur to ensure

Explain two things that should occur to ensure that hours worked on a time card are accurate and complete.

  Were management decisions to stay competitive sound

Based on the static budget report: What was the primary cause(s) of the loss in net income? Were management's decisions to stay competitive sound?

  What is the effective capacity

Material delay have routinely limited production of household appliances to 4000 per day. If the plan efficiency is 85%, what is the effective capacity?

  Is the judge in the case must rule as the other judges

John's company is involved in a lawsuit with a customer, Beth. Is the judge in this case must rule as those other judges decide and why?

  Instead of coins jingling in your pocket

Instead of coins jingling in your pocket, how would you like to have a pocketful of cowrie shells? These smooth, shiny snail shells, which are abundant in the Indian Ocean, have been used for currency for more than four thousand years.

  Compute the amount of cash paid to merchandise suppliers

It reported accounts payable to suppliers of $5,713 million at the beginning of fiscal 2010. Compute the amount of cash paid to merchandise suppliers

  The sweetwater candy company would like to buy a new

the sweetwater candy company would like to buy a new machine that would automatically dip chocolates. the dipping

  How much was paid to the common stockholders

The preferred stock was two years in arrears prior to the current year. How much was paid to the common stockholders

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd