Determine the service cost component of pension

Assignment Help Accounting Basics

Reference no: EM13121827

Pension data for Millington Enterprises include the following:

($ in millions)
Discount rate, 10%
Projected benefit obligation, January 1 $ 360
Projected benefit obligation, December 31 465
Accumulated benefit obligation, January 1 300
Accumulated benefit obligation, December 31 415
Cash contributions to pension fund, December 31 150
Benefit payments to retirees, December 31 54

Required:

Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31. (Enter your answer in millions. Omit the "tiny_mce_markerquot; sign in your response.)

Reference no: EM13121827

Questions Cloud

What minimum mass of succimer in milligrams is needed : Assume that patient blood lead levels are 0.600 mg/L that total blood volume is 5.0 L and that 1 mol of succimer binds 1 mol of lead.

Find the expected profit if probability is given : A contractor is considering a sale that promises a profit of $34,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $16,000 with a probability of 0.3. What is the expected profit?

Each box contains several envelopes : There are 3 boxes. Each box contains several envelopes. Some envelopes have "you lose" written on them. The rest say "you win..." . However, of the ones that say "you win..." , some contain only a piece of paper saying "... nothing" . Each of the ..

What range in values would you consider the change : What range in values would you consider the change to be insignificant for HR, RR and GSR data? Why?

Determine the service cost component of pension : Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31. (Enter your answer in millions. Omit the "tiny_mce_markerquot; sign in your response.)

What is the volume and mass of steam : What volume and mass of steam at 100 degrees celsius and 760 torr would release the same amount of energy as heat during condensation as 65.5 cm(cubed) of liquid water would release during freezing?

What type of movements would each of these motor : Motor units can be large (many muscle fibers) or small (few muscle fibers). What type of movements would each of these motor units control? Why?

Use factoring to solve the problem : Demand for pools. Tropical pools sells an aboveground model for p dollars each. The monthly revenue from the sale of this model is given by..R= -0.08p^2 + 300p

Calculate the trust accounting income : The trustee made distributions of $8,400 to Linda and $16,000 to Lucy. The trust and both beneficiaries are cash basis, calendar year taxpayers. Calculate the trust's accounting income.

User Account

All Pages