What was the amount of the projected benefit obligation

Assignment Help Accounting Basics
Reference no: EM13123377

The projected benefit obligation was $80 million at the beginning of the year. Service cost for the year was $10 million. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%.

What was the amount of the projected benefit obligation at year-end? (Enter your answer in millions. Omit the "tiny_mce_markerquot; sign in your response.)

Reference no: EM13123377

Questions Cloud

Calculate the amount of realized gross profit : State where the balance of Deferred Gross Profit would be reported on the financial statements for 2011. Calculate the amount of realized gross profit to be recognized on the income statement, prepared using the cost-recovery method.
Connected digraph proof : Prove Let D be a nontrivial connected digraph. Then D is Eulerian if and only if od(v)=id(v) for every vertex v of D. Od means the outdegree of a vertex v of a digraph D. (is the number of vertices of D that are adjacent from v.
Why is materiality sometimes difficult to apply in practice : Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?
Purpose and importance of audit reports : Examine the purpose and importance of audit reports. Determine the stakeholders impacted by audit reports. Analyze the impact of audit reports for each category of stakeholders.
What was the amount of the projected benefit obligation : What was the amount of the projected benefit obligation at year-end? (Enter your answer in millions. Omit the "tiny_mce_markerquot; sign in your response.)
Optimal order quantity : At Dot Com, a large retailer of popular books, demand is constant at 32,000 books per year. The cost of placing an order to replenish stock is $10, and the annual cost of holding is $4 per book.
Illustrate what was the original cost of the copier to john : Assuming the computer has an eleven-year life and will have no salvage value atthe expiration of the lease, illustrate what was the original cost of the copier to John? (b) What amountwould each payment be if the 11 annual payments are to be made ..
What the oxidation state of br2 : what the oxidation state P in PO4^-2? what the oxidation state O in PO4^-2?
Find probability that if company books seats not available : The booked passengers actually arrive for the flight. Estimate the probability that if the company books 278 persons. not enough seats will be available.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the effect of the sale and the payoff of the loan

What are the effect of the sale and the payoff of the loan on the accounting equation, i.e. what are the increases and/or decreases in assets, liabilities, and owners' equity?

  Exchange treatment affect eleanors capital gain

I know that Eleanor will have a capital gain...but how does having the transaction qualify or not qualify for sale or exchange treatment affect Eleanor's capital gain?

  Aaccrual basis accounting

Publicly traded firms are required to report to the investors using an accrual not a cash-basis approach. Do you think they should? What are the advantages? The drawbacks?

  Comparing and contrasting federal and state tax research

Write down a 3-5 pg paper comparing and contrasting Federal and state tax research. Examine the different constitutionality challenges with regard to Federal and state taxes.

  Set up necessary t accounts

A business paid 100 to cash to Karen Smith (the owner of the business) for her personal use. Set up the necessary T accounts and show how this transaction would be recorded directly to those accounts

  Accounting-monthly interest rates

What is the monthly interest rate if the lease payments are $24,000 per month for twenty-four months? What is the monthly interest rate if the lease payments are $24,000 per month for thirty-six months? What is the monthly interest rate if the lease ..

  Find equivalent units of production for conversion costs

What are the equivalent units of production (EUP) for the conversion costs in the month of September assuming ALG uses weighted-average process costing?

  Internal controls-payroll cycle

Please provide an explanation of the strengths and weaknesses of the internal controls related to the payroll cycle.

  Cost of goods manufacturing during the year

If the cost of goods manufactured during the year amounted to $1,330,000 and annual sales were $1,996,000, how much is the amount of gross profit for the year?

  Foreign operation functional currency

Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of calendar year when exchange rate was EUR.60 = AUD1.

  Determining the completion of accounting cycle

What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle?

  What are the differences between these two methods

Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?

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