User Account

All Pages

Find the fair value of plan assets at December

Assignment Help Accounting Basics
Reference no: EM133076733

Question - On January 1, 2020, Newlin Co. has the following balances:

Projected benefit obligation $3,500,000

Fair value of plan assets 3,000,000

The settlement rate is 10%. Other data related to the pension plan for 2020 are: Service cost $300,000

Amortization of prior service costs due to increase in benefits $100,000

Contributions $500,000

Benefits paid $225,000

Actual return on plan assets $395,000

Amortization of net gain $30,000

Required - Find the fair value of plan assets at December 31, 2020?

a. $3,895,000.

b. $3,500,000.

c. $3,670,000.

d. $3,440,000.

Reference no: EM133076733

Questions Cloud

COMP6231 Distributed Systems Design Assignment : COMP6231 Distributed Systems Design Assignment Help and Solution, Concordia University - Assessment Writing Service
What is the amount of the semi-annual interest payments : The present value of the bond is $37,282,062 and the market rate of interest was 8%. What is the amount of the semi-annual interest payments
Easily manipulated to present biased opinion : Statistics can be easily manipulated to present a biased opinion. Explain how it is easy to be mislead by statistics.
Dimensions of statistical reasoning : Discuss the four dimensions of statistical reasoning / thinking used in statistical inquiry.
Find the fair value of plan assets at December : The settlement rate is 10%. Other data related to the pension plan for 2020 are: Service cost $300,000. Find the fair value of plan assets at December
How should these demand bonds be reported : At year-end, rates on comparable debt were 7 percent. How should these demand bonds be reported in the governmental fund financial statements at year-end
Inferential statistics in managerial decision making process : Discuss the benefits of the use of descriptive and inferential statistics in the managerial decision making process.
How many dresses will it have on hand at the end : If Fiesta does not adjust its purchases and wants to absorb the drop in volume in inventory, how many dresses will it have on hand at the end of the next month
Compute the unit product cost : Assuming that the company uses absorption costing, compute the unit product cost and prepare an income statement

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the net cash inflow from investing activities

To prepare a master budget for April, May, and June of 2015, management gathers the following information.a.Sales for March total 22,500 units. Forecasted sales in units are as follows: April, 22,500; May, 19,500; June, 21,700; July, 22,500. Sales of..

  Describe a classified income statement

Describe a classified income statement. Be sure to address the classified income statement's four sections and the important financial relationships found

  What percentage of the total prior service cost

What percentage of the total prior service cost (using the years-of-service-method) will Carver amortize in 2018

  Determine the consolidated net income

Keefe, Incorporated, acquires 70% of George Company on September 1, 2005, and an additional 10% on April 1, 2006. Annual amortization of $5,000 relates to the first acquisition and $3,000 to the second. George reports the following figures for 200..

  Barnett company uses the weighted-average method in its

barnett company uses the weighted-average method in its process costing system. the company adds materials at the

  Discuss the subsequent events

Discuss the subsequent events and differentiate between adjusting and non-adjusting subsequent events

  When a company uses the allowance method of accounting for

1. when using the direct write-off method of accounting for uncollectible receivables the account allowance for

  How much should Lea include in her gross income

Greg died on July 1, 2017, and left Lea, his wife, In the current year, Lea receives $9,500. How much should Lea include in her gross income

  Discuss purpose of these entries is to make consolidation

The purpose of these entries is to make consolidation adjustments so that in the consolidate balance sheet the identifiable assets

  What does the word climate change signify

What does the word "climate change" signify or mean in the Vision statement

  Calculation of total sales assuming all sales are on credit

XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average collection period is 90 days. The question belongs to Accounting and it discusses about calculation of total sales assuming all sales are on credit

  What was the contribution toward fixed expenses

The guitars sell, on average, for $900 each. What was the contribution toward fixed expenses and profits from each guitar sold during the quarter

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