Reference no: EM13131148
On January 1, 2013, Laura's Living Company has the following defined benefit pension plan balances.
Projected benefit obligation $6,400,000
Fair value of plan assets 6,900,000
The interest (settlement) rate applicable to the plan is 10%. On January 1, 2014, the company amends its pension agreement so that service costs of $250,000 are created. Other data related to the pension plan are as follows.
2012 2013
Service costs $180,000 $190,000
Prior service costs amortization $0 $86,000
Contributions (funding) to the plan $200,000 $206,000
Benefits paid $185,000 $215,000
Actual return on plan assets $621,000 $654,000
Expected rate of return on assets 9% 10%
Required:
(a) Prepare a pension worksheet for the pension plan for 2013 and 2014.
(b) For 2014, prepare the journal entry to record pension-related amounts.
|
Five problem of consumer mathematics
: Two sizes of Jam 14 ounces for $1.29 or 32 ounces for $2.99. Which is the better buy? The price of bread increased $1.39 to $1.49. To the nearest tenth of a percent what is the increase?
|
|
A communication specialist
: Your boss has asked you (a communication specialist) to write an informative white paper about the business of developing new drugs for cancer patients. The content will be turned into a brochure for the public describing the four major issues
|
|
Local emergency operation plan analysis
: Locate an emergency operations plan for the community, county, parish, or state where your home or school is located. Compare this plan to the description of the emergency planning process found in the required reading. State in your case the followi..
|
|
Find the expected gain for the insurance company
: If the probability that she dies in the coming year is 0.001, what is the expected gain for the insurance company?
|
|
Prepare a pension worksheet for the pension plan
: The interest (settlement) rate applicable to the plan is 10%. On January 1, 2014, the company amends its pension agreement so that service costs of $250,000 are created. Other data related to the pension plan are as follows.
|
|
Information about fractions word problem
: World grain demand. Freeport McMoRan projects that in 2010 world grain supply will be 1.8 trillion metric tons and the supply will be only 3/4 of world grain demand.
|
|
Determine if reject or fail to reject the null hypothesis
: Determine if you would reject or fail to reject the null hypothesis in each of the following cases: (a) z=1.06 (b) z=2.06 (c) A z score beyond which 7% of the data fall in each tail.
|
|
Journal entry to record the reissuance
: Treasury stock that had been purchased for $5,400 last month was reissued this month for $7,500. The journal entry to record the reissuance would include a credit to
|
|
What is the consolidated balance for the equipment account
: Parrett Corp. acquired one hundred percent of Jones Inc. on January 1, 2009, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000.
|