User Account

All Pages

Compute pension expense for lao ban ltd

Assignment Help Accounting Basics
Reference no: EM132622118

Question - Lao Ban Ltd. sponsors a defined benefit pension plan for its employees. On January 1, 2019, the following balances related to this plan.

Plan assets (fair value) £1,300,000

Defined benefit obligation 1,750,000

Pension asset/liability 450,000 Cr.

Accumulated net loss 227,500

As a result of the operation of the plan during 2019, the actuary provided the following additional data on December 31, 2019.

Service cost for 2019 £270,000

Discount (interest) rate 9%

Actual return on plan assets in 2019 120,000

Contributions in 2019 332,500

Benefits paid retirees in 2019 212,500

Instructions - Using the preceding data, compute pension expense for Lao Ban Ltd. for the year 2019 by preparing a pension worksheet that shows the journal entry for pension expense.

Reference no: EM132622118

Questions Cloud

What are the value of the futures and the value of forward : What are the value of the futures and the value of the forward when the futures price and the forward price both increase to 1.6040?
Cognitive academic language proficiency : Compares the differences between Basic Interpersonal Communication Skills (BICS) and Cognitive Academic Language Proficiency (CALP).
Do believe a firm must have a firm grasp of the concepts : Do believe a firm must have a firm grasp of the concepts of differential cost, opportunity cost and sunk cost to be effective in making business decisions?
What is the total amount of period costs incurred to sell : What is the total amount of product costs incurred to make 31,500 units? what is the total amount of period costs incurred to sell 29,750 units?
Compute pension expense for lao ban ltd : Compute pension expense for Lao Ban Ltd. for the year 2019 by preparing a pension worksheet that shows the journal entry for pension expense
Disabilities education act : Students must qualify for special education services under one of the disability categories outlined by the Individuals with Disabilities Education Act.
What is the present value of investment : You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 9.9 percent,
Compute value of the lease liability at lease commencement : Suppose Tuan expects the residual value at the end of the lease term to be €100,000. Compute value of the lease liability at lease commencement
How much total manufacturing cost is an indirect cost : Kubin Company's, How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Total conversion costs for the period

All materials are added at the beginning of the process. Direct labor was $49,500 and factory overhead was $9,900. The total conversion costs for the period were:

  Identify the four cycles in an accounting system

Identify the four cycles in an accounting system. Identify the accounts that can be identified within each of the cycles identified.

  Advantages of standardizing the marketing mix worldwide

advantages of standardizing the marketing mix worldwide.

  Calculate the cost of a standard job and a special job

Activity-based costing, service company. Speediprint Corporation owns a small printing press that prints leaflets, brochures, and advertising materials.

  How much would we expect in profit for every unit sold above

What is the breakeven point for this company (units & Sales)? How much would we expect in profit for every unit sold above breakeven? If the company has its budget set at $35,000 target profit, how many units must it sell to achieve the target profit..

  Stein company makes carpets a customer wants to place a

stein company makes carpets. a customer wants to place a special order for 1000 carpets in navy blue with the company

  Calculate the eva for falconer company

Required: Calculate the EVA for Falconer Company. Enter negative values as negative numbers, if required. Round your answer to the nearest dollar

  What was the total amount of dividends paid

PepsiCo's financial statements are presented in Appendix A. Coca-Cola's financial statements are presented in Appendix B.

  Determine their taxable income and tax liability

Matt and Becky are both 66 years of age. Matt still works and earned $38,000 last year. Determine their taxable income and tax liability

  Common stock in settlement for legal services

A corporation was organized in January 2004 with authorized capital of $10 par value common stock. On February 1, 2004, shares were issued at par for cash. On March 1, 2004, the corporation's attorney accepted 7,000 shares of common stock in settl..

  Prepare the general journal entries

On February 1, 2018, Morgan Corporation issued 15,000 shares of $10 par value common stock, Prepare the General Journal entries

  A portfolio consists of the following four stocks stock

a portfolio consists of the following four stocks stock current market value expected return a 180000 8 b 145000 10 c

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