Reference no: EM13259526
Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011.
2010 2011
Plan assets (fair value), December 31 $699,000 $849,000
Projected benefit obligation, January 1 700,000 800,000
Pension asset/liability, January 1 140,000Cr ?
Prior service cost, January 1 250,000 240,000
Service cost 60,000 90,000
Actual and expected return on plan assets 24,000 30,000
Amortization of prior service cost 10,000 12,000
Contributions (funding) 115,000 120,000
Accumulated benefit obligation, December 31 500,000 550,000
Interest/settlement rate 9% 9%
a) Compute pension expense for 2010 and 2011.
B) Prepare the journal entries to record the pension expense and the company's funding of the pension plan for both years.
|
What capacitance should be used
: An RLC circuit is used in a radio to tune into an FM station broadcasting at f = 99.7 MHz. The resistance in the circuit is R = 12.4 ?, What capacitance should be used
|
|
Determine the adequacy of the vitamin intake
: A scientific study looks at the nutrient intakes of a group of families that visit food banks at least once a month. Which standard(s) will the researchers use to determine the adequacy of the vitamin intake?
|
|
Find the current that flows through the short-circuit
: The two-wire 120-V supply line from the electric power company to the consumer has a resistance of 0.03 ohm. If a short circuit occurs at the consumer's residence, find the current that flows through the short-circuit.
|
|
Compute net income and balance sheet
: Les Fleurs, a boutique in Paris, France, had the following accounts Compute the following for Les Fleurs during 20X2: Net income, Balance sheet and Owners equity.
|
|
Case study of gordon company
: Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011.
|
|
Calculate the current price of the bonds
: Midland Oil has $1,000 par value bonds outstanding at 8 percentinterest. The bonds will mature in 25 years. Compute the current price of the bonds if the present yield to maturity is:
|
|
Drastic change in cost structure
: However, the coststructure has reversed and now fixed costs make up the majority of total manufacturing costs. What caused this to happen? What would explain the drastic change in cost structure?
|
|
How much current can flow through the human conducting path
: If the resistance of dry skin is 5 k? and accidental contact is made with a conductor that is at a voltage of 120 V, how much current can flow through the human conducting path. If contact with this same conductor is maintained for 10 s
|
|
Find the work done by the normal force
: A 19.8 kg block is dragged over a rough, hor- izontal surface by a constant force of 180 N acting at an angle of angle 32.8? above the horizontal. Find the work done by the normal force
|