What is funded status of barrel corporation pension plan

Assignment Help Accounting Basics
Reference no: EM133070441

Question - Barrel Corporation had service and interest costs of $90,000 related to its defined benefit pension plan for the year ended December 31, Year 7. The company's unrecognized prior service cost was $600,000 at December 31, Year 6 and the average remaining service life of the company's employees was 20 years. Plan assets earned an expected and actual return of 10% during Year 7. The company made contributions to the plan of $140,000 and paid benefits of $105,000 during the year. The pension plan had plan assets with a fair value of $770,000 at December 31, Year 6. The PBO was $920,000 at December 31, Year 6. What is funded status of Barrel Corporation's pension plan at December 31, Year 7?

Reference no: EM133070441

Questions Cloud

Modern policing-american law : Describe characteristics that define the "modern" era of policing. Explain criteria that make modern day law enforcement effective.
Investment fund earning average rate of return : For the five-year period ended October 31, 2019, a North American Resource Fund had a compound annual return of 7.99% compared to the average annual five-year r
What is her gain-loss relative to selling shares : Pinder Ltd tax rate is 32% and Susan personal tax rate is 36%. If Susan decides to participate in the buyback, what is her gain/loss relative to selling shares
Current value of the index : Find your expected profit 11 months from now from buying an 11-month forward contract on the stock market index. The current value of the index is 5000, the con
What is funded status of barrel corporation pension plan : The PBO was $920,000 at December 31, Year 6. What is funded status of Barrel Corporation's pension plan at December 31, Year 7
What amount should Robbins record as lease liability : The present value of 1 at: 10% for 10 years is 0.385 and 12% for 10 years is 0.322. What amount should Robbins record as lease liability
3p turbo-cross border investment in brazil case : 1) How do you account for the low interest loan provided by the German vendor in the valuation analysis?
What amount should Wall report as rental income : Wall granted Fox the first six months of the lease rent-free. In its December 31, Year 1, income statement, what amount should Wall report as rental income
What is the current value of riskless debt : Santos Limited, an automobile company financed by both debt and equity, is undertaking a new project. If the project is successful, the value of the firm in one

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much is the book value of the truck after fiscal year

Using the double-declining balance method, how much is the book value of the truck after the fiscal year 2018 adjusting entry

  What is fox current year earnings per common share

Fox Co. had 300,000 shares of common stock issued and outstanding at December 31, What is Fox current year earnings per common share

  Calculate the total direct material cost variance

At an hourly rate of $13.00 per hour. 8,500 units required 19,000 hours at total cost of $246,050. Calculate the total direct material cost variance.

  Prepare the journal entries to record the costs incurred

below is information from job card 506 for the bearing manufacturing company. date started june 15 2015date completed

  Prepare the appropriate journal entries

A stock dividend of 10% is declared and issued at the fair value of the shares. Prepare the appropriate journal entries

  What is the amount of interest that Crocus should capitalize

On July 1, 2020, Crocus obtained a $80 million construction loan with a 6% interest rate. What is the amount of interest that Crocus should capitalize in 2020

  If fixed costs are 500000 and the unit contribution margin

1. the debit to factory overhead for the cost of indirect materials is obtained from the summary of the materials

  K2b co is considering the purchase of equipment that would

k2b co. is considering the purchase of equipment that would allow the company to add a new product to its line. the

  Determine the selling price for bond b

Determine the selling price for bond B, both bonds will yield j12=9%? Two bond has face values of $12000 and are redeemable at par in n-years.

  Preparing a differnetial analysis

The main reason to prepare a differnetial analysis report is to: a. Decide between two options b. See if there has been a difference in net income over a period of time such as 5-10 years'

  What is the companys cost of preferred stock

What is the companys cost of preferred stock - What is the cost of equity from retained earnings based on the CAPM approach and What is the cost of equity from retained earnings based on the CAPM?

  Which the entry to record the conversion includes a

Which the entry to record the conversion includes a? Subsequently, the preference shares are converted into ordinary shares at 3 ordinary shares.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd