Solution-What amount will electronic distribution report in

What amount will electronic distribution report in its 2011

Assignment Help Accounting Basics

Reference no: EM131002718

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2011 are as follows:
The expected long-term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1, 2011, but at the end of 2011, the company amended the pension formula creating a prior service cost of $12 million, two-thirds of which is related to employees whose pension benefits have vested.

Required:

1. Calculate the pension expense for 2011.

2. Prepare the journal entry to record pension expense, gains or losses, prior service cost, funding, and payment of benefits for 2011.

3. What amount will Electronic Distribution report in its 2011 balance sheet as a net pension asset or net pension liability?

Reference no: EM131002718

Questions Cloud

Prepare journal entries to record the pension expense : Prepare journal entries to record the pension expense, funding of plan assets, and retiree benefit payments.

What is the speed of the meteoroid : A meteoroid passes through a position in space where its speed is very small relative to Earth's and it is at a perpendicular distance of 19 Earth radii above Earth's surface. The meteoroid is moving in such a way that Earth captures it. What is t..

What force does the wire exert to keep the rod horizontal : A mass is hung from the free end of the rod to produce a downward force of Fo. A wire supports the rod at 20 cm from the pivot point. What force Fi does the wire exert to keep the rod horizontal? How large, and in which direction, is the force at ..

Describe how you would design a logistics network : Describe how you would design a logistics network consisting of only one warehouse. In the discussion, include the steps you need to take in order to design the optimal network. What information and data is needed to make this determination? What str..

What amount will electronic distribution report in its 2011 : What amount will Electronic Distribution report in its 2011 balance sheet as a net pension asset or net pension liability?

What is speed of the end of the stick as it hits the floor : A meter-long stick is balanced vertically on the ground. It is then made to fall with a gentle nudge. What is the speed of the end of the stick as it hits the floor? Assume the end on the floor does not slip. Treat the stick as a "thin rod".

What amount will electronic distribution report : Prepare the journal entry to record pension expense, gains or losses, past service cost, funding, and payment of benefits for 2011.

Mkt 301 case assignment : Philip Morris is the nation's largest tobacco company and sells leading cigarette brands such as Marlboro and Virginia Slims. While the health risks of smoking are well known, selling cigarettes has traditionally been considered a safe and profitable..

How much mass m2 must be suspended : A meter stick of mass 150 g is pivoted at its center. A mass m1 of 75.0 g is suspended 13.0 cm from the left end of the meter stick. How much mass m2 must be suspended 69.0 cm from the left end of the meter stick to achieve rotational equilibrium?

User Account

All Pages

What amount will electronic distribution report in its 2011

Reference no: EM131002718

Reference no: EM131002718

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT