Determine the actual return on plan assets

Assignment Help Accounting Basics
Reference no: EM132615627

Question - The funded status of Hilton Paneling Inc.'s defined benefit pension plan and the balances in prior service cost and the net gain-pensions, are given below.

 

($ in 000s)

 

2018 Beginning Balances

2018 Ending Balances

Projected benefit obligation

$3,300

$3,501

Plan assets

3,400

3,691

Funded status

100

190

Prior service cost-AOCI

370

333

Net gain-AOCI

382

335

Retirees were paid $260,000 and the employer contribution to the pension fund was $255,000 at the end of 2018. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 6%. There were no changes in actuarial estimates and assumptions regarding the PBO.

Required -

1. Determine the actual return on plan assets of 2018.

2. Determine the loss or gain on plan assets of 2018.

3. Determine the service cost of 2018.

4. Determine the pension expense of 2018.

5. Average remaining service life of active employees (used to determine amortization of the net gain).

Reference no: EM132615627

Questions Cloud

What amount of interest is capitalized as cost : During 2019, an entity constructed a new building at a cost of P30,000,000. What amount of interest is capitalized as cost of the new building
Potential difference between the plates of the capacitor : 3) The maximum current in the circuit, 4) The maximum potential difference between the plates of the capacitor.
What is the total area of the collectors : What is the total area of the collectors required to satisfy the need of having the swimming pool always at least at 28? C? Given that each collector is about
What is the speed of the ball as it is released : Natalie throws a tennis ball vertically upward. The ball returns to the point of release after 3.5 s. What is the speed of the ball as it is released?
Determine the actual return on plan assets : Retirees were paid $260,000 and the employer contribution to the pension fund was $255,000 at the end of 2018. Determine the actual return on plan assets
What is forward and reverse biased diode : What is forward and reverse biased Diode? How they affect the width of depletion region. Explain with the help of suitable diagrams.
Resistivity of metals increases : How do you account for the fact that resistivity of metals increases with increase in temperature but that of semiconductors decreases?
Describe the band theory in solids : Describe the band theory in solids and state how Insulators, Conductors and Semiconductors are distinguished using concept of energy bands.
Effect of temperature on conductivity of semiconductors : How do you account for the fact that resistivity of metals increases with increase in temperature but that of semiconductors decreases?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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