Question on 1st january 2013 lauras living company has the

Assignment Help Financial Accounting

Reference no: EM13350215

Question :

On 1^st January, 2013, Laura's Living Company has the subsequent defined benefit pension plan balances.

Projected benefit obligation $5,700,000

Fair value of plan assets 7,200,000

The interest (settlement) rate applicable to the plan is 10 percent. On 1^st January, 2014, the company amends its pension agreement so that service costs of $350,000 are created. Other data related to the pension plan are as given.

2013 2014

Service costs $150,000 $165,000

Prior service costs amortization $0 $63,000

Contributions (funding) to the plan $168,000 $194,000

Benefits paid $190,000 $220,000

Actual return on plan assets $576,000 $498,000

Expected rate of return on assets 8% 7%

Required:

(a) Purpose a pension worksheet for the pension plan for 2013 and 2014.

Reference no: EM13350215

Questions Cloud

Question the chinese teapot company manufactures ceramic : question the chinese teapot company manufactures ceramic and plastic teapots. the companys western plant has changed

Problem 1effect of accrued interest on financial : problem 1effect of accrued interest on financial statementsnorman co. borrowed 15000 from the local bank on 1st april

Questionaccounting for sales tax and short-term debt -two : questionaccounting for sales tax and short-term debt -two accounting cyclesthe subsequent transactions apply to artesia

Question able company expects to start the coming year with : question able company expects to start the coming year with 12000 units of product x in the inventory of completed

Question on 1st january 2013 lauras living company has the : question on 1st january 2013 lauras living company has the subsequent defined benefit pension plan balances.projected

Question norman co borrowed 15000 from the local bank on : question norman co. borrowed 15000 from the local bank on 1st april 2012 when the company was started. the note had an

Questionzoya arbiser regional manager of gold medal sports : questionzoya arbiser regional manager of gold medal sports shops is analysis the results of 15 stores in her region.

Problem 1 starting work-in-process is 2000 units units : problem 1. starting work-in-process is 2000 units units completed is 44000 units and ending work-in-progress is 3000

Question marina del rey manufacturing corp uses a typical : question marina del rey manufacturing corp. uses a typical cost system that records raw materials at real cost records

User Account

All Pages