Glynis beach co has a defined benefit pension plan for its

Reference no: EM13606009

Service cost
Interest Cost
ROPA:
Amortization for Prior Service Cost:
Amortization for G/L
Pension Liability
and finally all the corresponding Journal Entries

Glynis Beach Co. has a defined benefit pension plan for its employees. At January 1, 2010 the ABO is $560,000 and the PBO is $600,000. Service cost
for 2010 is estimated to be $480,000 and the expected return on plan assets and the settlement rate are 9% and 10% respectively.

Glynis Beach Co uses the years-of-service method of amortization for PSC, which is $280,000 at January 1, 2010. The total number of service years is 1,000 and
the service years attributable to 2010 is 200 (average service life of 5 years).

At January 1, 2010, the fair market value of the plan assets is 568,000 with an accumulated OCI (loss) of $180,000 at the same date. Any amortization of the unrecognized loss
is recognized straight-line over the average remaining service life of employees. Glynis Beach Co. plans to contribute $462,000 to the pan fund in 2010.

Reference no: EM13606009

Questions Cloud

What is the average density of this solid solution what is : gold and silver both have the fcc crystal structure and ag forms a substitutional solid solution for all concentrations

Love theatre inc owns and operates movie theaters : love theatre inc. owns and operates movie theaters throughout new mexico and utah. love theatre has declared the

Attend college part-time at a cost of 600 and work : juanita is trying to decide whether or not to attend college during the next 12-week session. she has the following

Gold forms a substitutional solid solution with silver : gold forms a substitutional solid solution with silver. compute the weight percent of gold that must be added to silver

Glynis beach co has a defined benefit pension plan for its : service costinterest costropaamortization for prior service costamortization for glpension liabilityand finally all the

Resolved questionshow me another raquo managerial : resolved questionshow me another raquo managerial accounting question about direct materials price and quantity

Given the indices of refraction and of material 1 and : given the indices of refraction and of material 1 and material 2 respectively rank these scenarios on the basis of the

Jordan who is paid monthly is single and claims 0 : jordan who is paid monthly is single and claims 0 deductions. he earns 100000 per year as a manager at a firm.

A trick coin has been weighted so that the probability of : a trick coin has been weighted so that the probability of heads is 0.8 and the probability of tails is 0.2.a. if you

User Account

All Pages