User Account

All Pages

Prepare a pension worksheet for 2011 and any journal entries

Assignment Help Accounting Basics
Reference no: EM131109436

1. (Comprehensive 2-Year Worksheet) Hobbs Co. has the following defined-benefit pension plan balances on January 1, 2010.Projected benefit obligation $4,600,000Fair value of plan assets 4,600,000The interest (settlement) rate applicable to the plan is 10%. On January 1, 2011, the company amends its pension agreement so that prior service costs of $600,000 are created. Other data related to the pension plan are: 

(a) Prepare a pension worksheet for the pension plan in 2010.

(b) Prepare any journal entries related to the pension plan that would be needed at December 31, 2010.

(c) Prepare a pension worksheet for 2011 and any journal entries related to the pension plan as of December 31, 2011.

(d) Indicate the pension-related amounts reported in the 2011 financial statements. 

1613_11-B-A-P-P-B (82).PNG

Reference no: EM131109436

Questions Cloud

Market is characterized by demand curve : A market is characterized by a demand curve that can be expressed as P = 96 – (1/3) Q. Each of the two identical firms currently serving the market has a total cost function of the form C = 12 q. There are no fixed costs. If the 2 duopolists behave a..
Discretionary monetary policy is monetary policy : Discretionary monetary policy is monetary policy that is based on
All the factors affecting demand in this model : Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the price changes are 100, 200, 300, 400, 500, 600 cents. Plot the corresponding supply curve on the same graph using the ..
What is scientific software''s effective annual rate : The bank will adjust the accounts by 10% for returns and allowances. It then will lend up to 85% of the adjusted acceptable collateral. What is the maximum amount that the bank will lend to Scientific Software? What is Scientific Software's effective..
Prepare a pension worksheet for 2011 and any journal entries : Prepare a pension worksheet for 2011 and any journal entries related to the pension plan as of December 31, 2011.
Prepare a pension worksheet presenting both years : Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.
Average remaining service life of active employees : Hanson Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2010, the following balances related to this plan.
What is the total dollar amount of accounts receivable : If the bank will accept all accounts that can be collected in 45 days or less as long as the customer has a history of paying within 45 days, which accounts will be acceptable? What is the total dollar amount of accounts receivable collateral?
Compute the amount of the 2010 increase or decrease : Compute the amount of the 2010 increase/decrease in net gains or losses and the amount to be amortized in 2010 and 2011.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the volume of sales at which net income would be

determine the volume of sales at which net income would be equal regardless of whether pittman company sells through

  Compute the total materials variance and the price

Compute the total materials variance and the price and quantity variances - quantity purchased and used is 26,200 units.

  Prepare journal entries to record the issue of shares

Calculate the net cash provided or used by investing activities -  Discuss about the bond financing, and explain the advantages and disadvantages of bond financing.

  During the year equipment was sold for 9700 cash this

presented below and on the next page are the ?nancial statements of rajesh company. rajesh company comparative balance

  Create a system flowchart of the current system

Create a system flowchart of the current system

  The company uses a periodic inventory system

1. The December 31, 2013, inventory of Tog Company, based on a physical count, was determined to be $450,000.

  Importance of cost-visual fit

Mickelle Bride, the CEO of Harmony Organ, was very excited about the new methods of looking at costs you showed her previously (fixed cost, variable cost, and semi-variable cost, the importance of cost, visual fit, high-low, and least-squares regr..

  U.s. individual income tax return

U.S. INDIVIDUAL INCOME TAX RETURN

  Wright company expects cash sales for july of 12000 and a

wright company expects cash sales for july of 12000 and a 20 monthly increase during agust and september. credit sales

  Inability to recognize the left side of his visual field

A work-related accident left Bob with a paralyzed left arm and an inability to recognize the left side of his visual field. Bob's condition is called:

  The current sections of leach incs balance sheets at dec 31

the current sections of leach inc.s balance sheets at dec 31 2010 and 2011 are presented here. leachs net income for

  Assuming sales of the sprinklers were discontinued

Assuming sales of the sprinklers were discontinued after 2010, prepare any journal entry(s) in 2011 related to the warranty.

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