Data for 2010 were as follows: PBO, Jan 1, $241,000 and Dec 31, $279,000; pension plan assets (fair value) Jan 1, $184,000, and Dec 31, $237,000. The projected benefit obligation was underfunded at the end of 2010 by? a. $57,000 b. $ 38,000 c. $ 53,000 d. $ 42,000
Q: If you give me wrong answer I will give you unhelpful rate
A: To calculate the amount of sales, we can use the NWC (Net Working Capital) Turnover ratio formula:…
Q: Accounting need help
A: Step 1:- Define Earnings Per ShareEarnings per share (EPS) is a fundamental financial metric that…
Q: General accounting
A: Calculate Earnings per Share (EPS)EPS measures the amount of net income earned per share of stock.…
Q: Solve this accounting question
A: Step 1: Define Rate of ReturnThe rate of return on an investment is its profit or loss divided by…
Q: ! Required information Return to question [The following information applies to the questions…
A:
Q: The Individual financial statements for Abbey Company and Bellstar Company for the year ending…
A: ---Consolidation Worksheet for the Year Ending December 31, 2024| Account…
Q: Cherboneau Novelties produces drink coasters (among many other products). During the current year…
A:
Q: I need help.
A: First, let's organize the cost information:Beginning WIP: $1,050 ($250 + $800)Added this month:…
Q: Need answer the accounting question
A: Step 1: Define Return on Equity (ROE)The return on equity (ROE) ratio is a profitability ratio that…
Q: What is the actual total direct materials cost for the current period?
A: Step 1: Define Standard CostThe standard cost is the benchmark that a company set to produce one…
Q: 29 2288 30 30 M. Smith £118. paid the following by cheque: F. Hood Received cheques from: R. Pleat…
A: Hope you find the answer useful
Q: Borod Ltd started business early in 2013. During its first 9 months, Borod Ltd acquired real estate…
A: First, we need to analyze each transaction and determine which category it falls into. The…
Q: Can you please answer the accounting question?
A: Step 1: Define Accrued ExpensesAccrued expenses are expenses that have been incurred but have not…
Q: Hello tutor Please provide Solutions get answer
A: Step 1:- Define AssetsThe term used to describe the resources of an organization is "assets." Assets…
Q: The Absolute Zero co. Just issued a dividend of $3.20 per share on its common stock.
A:
Q: None
A: Average Collection Period = 365*(Accounts Receivable/Net Sales)30 = 365*(4.30/Net Sales)30/365 =…
Q: You want your all-equity (no debt) firm to provide a return on equity of 13.5%. If total assets are…
A: Explanation for A: As per the formula of Return on Equity (ROE):ROE = Net income/Total shareholders'…
Q: The Windsor Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to…
A: To be able to determine which building is recommended, we must compute for the NPV of each option.…
Q: Provide an example of a situation in which the performance of tests of controls for the internal…
A: Detailed explanation: A substance that has to do with tests of controls can provide a rich source of…
Q: Need Answer Of This Question Please Need help about this Question with Explanation
A: Step 1: Definition of Sales:Sales refer to the amount earned through selling the goods of a company…
Q: rmn
A: To compute the Adjusted Gross Income (AGI) on Mr. and Ms. Gilbert's joint return, we need to…
Q: Provide solution
A: If you have any problem let me know in comment section thank you.
Q: Don't use AI.
A: Required 1Age GroupComputationEstimated Amount UncollectibleNot yet due55,000 x 3%1,6500-60 days…
Q: Hi expart Provide solution for this general accounting question
A: Step 1: Define Trade CreditIt is a type of financing by the use of accounts payable to pay the…
Q: Provide answer the accounting question with step by step calculation
A: Step 1: Define Fixed CostThe term fixed cost is an expense that does not fluctuate as the quantity…
Q: b
A: Step 1: Calculation of Net Loss—AOCI:Net Loss - AOCIDateParticularsDebitCreditJan 1, 2021Beginning…
Q: Financial Accounting
A: Step 1: Define Cost of Equity and TaxesThe cost of equity of a company is higher than its cost of…
Q: None
A: To calculate the company's accounts receivable, we need to determine the average collection period…
Q: General Accounting
A: Step 1: Define Net IncomeNet income is the sum of money earned by an individual or corporation over…
Q: When a company declares a cash dividend, the following accounts are affected: a) Assets and Revenue…
A: Explanation of Cash Dividend:A cash dividend is a payment made by a company to its shareholders as a…
Q: General Accounting
A: Step 1: Define Note ReceivableIt refers to the promissory note that reports the amount an…
Q: Accounting. The weaver manufacturing company incurred direct labour cost
A: Step 1:- Define Cost of SalesCost of sales can be said as the total amount of all costs involved in…
Q: What is the firms ROE?
A: A company's profitability in relation to its equity is gauged by its Return on Equity (ROE). It…
Q: 7.3 Big Co. owns 60% of Little Co, and uses the full equity method to account for their…
A: Step 1: Step 2: Step 3: Step 4:
Q: Provide step by step calculation and give correct answer
A: Step 1: Define Net Profit MarginNet profit margin expresses net profit as a percentage of sales. A…
Q: If the w. king papers correlating with this textbook are not used, omit Problem 4-4B. per accounts…
A: First, we need to complete the end-of-period spreadsheet using the adjustment data provided. This…
Q: Solve this accounting problem
A: Step 1: Define Cost AccountingCost accounting is a major field of accounting. Cost accounting helps…
Q: General Accounting
A: Step 1: Define Standard CostAn expected cost derived through empirical data analysis for…
Q: Accounting NPBT
A: Step 1:- Define Profit MarginThe income statement for a firm shows the costs incurred, sales made,…
Q: Need help with this accounting question
A: Step 1: Define Salary PayableSalary payable is a current liability account as a company typically…
Q: Can you answer this accounting question?
A: Step 1: Introduction to the Contingent EmployeeEmployees working for the company freelancing basis…
Q: Need help with this question
A: Step 1: Compute the units completed and transferred out during the period by using the following…
Q: Research Problem 2. Sean Moon is president, secretary, treasurer, sole director, and sole…
A: Here's a detailed explanation for better understanding. Key points to consider:Sean's Role and…
Q: Need correct answer
A: Explanation of Common Stock: Common stock represents ownership in a corporation and grants…
Q: Please Give Answer Of Accounting Question
A: Step 1: Definition of Applied Overhead Cost:Overhead cost is applied in the production by debiting…
Q: Not considered a fixed asset?
A: Step 1: Introduction to accountingAccounting is defined as the process of recording business…
Q: I need help.
A: Approach to solving the question: For ease of understanding, I have provided solutions in both…
Q: Question 2 Presented below are the year-end balances at December 31 of Fast Forward. (All accounts…
A: Approach to solving the question:For ease of understanding, I have provided solutions in both text…
Q: Accounting
A: Explanation of Notes Payable (due in 2 years):Notes Payable refers to written promises to pay a…
Q: General Accounting
A: The solution begins by calculating the growth rate for Dalton Inc., which is determined using the…
Data for 2010 were as follows:
Step by step
Solved in 2 steps
- Calculate the amount that J&J's retirement fund obligations are underfunded as of each year-end. How much of the underfunding is reported on the company's balance sheet? Analyzing Retirement Fund Obligations. The following information is taken from the 2018 annual report of Johnson & Johnson (J&J): ($ millions) 2018 2017 $31,670 26,818 (4,852) $33,221 Projected benefit obligation Plan assets at fair value .... Net amount recognized in the company's balance sheet (as a liability). 28,404 (4,817)Assume that actual returns and expected returns to plan assets in a defined benefit pension plan are +$10 and +$12, respectively. What is the effect in the current period on pension expense? Select One: a.Pension expense is increased by $10 b.Pension expense is reduced by $10 c.Pension expense is reduced by $12 d.None of the listed answersAn entity provided the following items related to its defined benefit plan for 2019: January 1 December 31 Projected benefit obligation 3,000,000 3,355,000 Fair value of plan assets 2,260,000 1,600,000 The current service cost for the year was P155,000, contributions to the fund amounted to P500,000 and the actual return and interest income on the plan asset was P160,000, No benefits were paid, There was a decrease in the projected benefit obligation during the year due to change in actuarial assumptions What is the benefit expense for 2019?
- An entity provided the following items related to its defined benefit plan for 2019: January 1 December 31 Projected benefit obligation 3,000,000 3,355,000 Fair value of plan assets 2, 260,000 1,600,000 The current service cost for the year was P155,000, contributions to the fund amounted to P500,000 and the actual return and interest income on the plan asset was P160,000, No benefits were paid, There was a decrease in the projected benefit obligation during the year due to change in actuarial assumptions What amount was recognized as actuarial gain on PBO during the year?Pension data for Barry Financial Services Incorporated include the following: Discount rate, 7% Expected return on plan assets, 13% Actual return on plan assets, 12% Service cost, 2024 January 1, 2024: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost- AOCI (2024 amortization, $25) Net gain- AOCI (2024 amortization, $12) There were no changes in actuarial assumptions. ($ in thousands) $ 490 3,200 2,900 3,300 415 510 December 31, 2024: Cash contributions to pension fund, December 31, 2024 Benefit payments to retirees, December 31, 2024 Required: 1. Determine pension expense for 2024. 425 450 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for 2024.The following information relates to Oriole, Incorporated: Plan assets (at fair value) Pension expense Projected benefit obligation Annual contribution to plan Accumulated OCI (PSC) For the Year Ended December 31, ○ $0. O $540000. O $2460000. O $174000. 2025 $1608000 765000 1980000 810000 630000 2026 $2286000 594000 2460000 594000 540000 The amount reported as the liability for pensions on the December 31, 2026 balance sheet is
- Pension data for Barry Financial Services Incorporated include the following: Discount rate, 7% Expected return on plan assets, 12% Actual return on plan assets, 11% Service cost, 2024 January 1, 2024: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost- AOCI (2024 amortization, $50) Net gain- AOCI (2024 amortization, $12) There were no changes in actuarial assumptions. Complete this question by entering your answers in the tabs below. Required 1 Required 2 December 31, 2024: Cash contributions to pension fund, December 31, 2024 Benefit payments to retirees, December 31, 2024 Required: 1. Determine pension expense for 2024. 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for 2024. Pension expense ($ in thousands) $ $ 480 0.0 3,150 2,850 3,250 410 500 Determine pension expense for 2024. Note: Amounts to be deducted should be indicated with a minus sign.…Sandhill Co. had the following selected balances at December 31, 2021: Projected benefit obligation $4,640,000 Accumulated benefit obligation 4,540,000 Fair value of plan assets 4,285,000 Accumulated OCI (PSC) 165,000 Calculate the pension asset/liability to be recorded at December 31, 2021. Pension $The following information relates to the defined benefit pension plan of Nelson, Inc. Projected benefit obligation Fair value of plan assets Accumulated OCI-net actuarial gain Settlement rate (for year) Expected rate of return (for year) The interest cost for 2020 is $158,640 $211,520 12/31/19 2,644,000 3,118,000 432,000 O $240,120 O $280,140 O None of the above 6% 8% 12/31/20 4,002,000 3,328,000 480,000 For 2020, Nelson estimates that the average remaining service life of its current employees is 8 years. Nelson's contribution to the plan was $364,000 in 2020 and benefits paid to retirees were $276,000, 6% 7%
- How much is the balance of the defined benefit obligation at December 31,2020? How much is the surplus or deficit related to retirement benefits that will be shown on December 31,2020 statement of financial position? How much is the defined benefit cost taken to other comprehensive income for the year 2020?AU.S. company uses the expected return on plan assets to calculate the net periodic pension cost for its only pension plan. In Year 1, the plan's actual return was 5 percent versus an expected return of 7 percent This diferential will cause an increase to all of the following except the: O Funded status. O Fair value of plan assets. O Net periodic pension cost. O Projected benefit obligation.At the beginning of current year, Maximus Company hada projected benefit obligation of P10,000,000 and a pension The entity provided the following information related to the Problem 18-20 (IAA) fund with a fair value of P9,200,000. pension plan during the current year: Current service cost Actual return on the pension fund Benefits paid to retirees Contribution to the pension fund Discount rate Expected return on pension fund 1,200,000 250,000 1,100,000 1,050,000 10% 1. What is the pension expense for the current year? a. 1,272,000 b. 2,100,000 c. 1,850,000 d. 1,050,000 2. What is the remeasurement gain or loss for the current year? a. 578,000 gain b. 578,000 loss c. 250,000 gain d. 250,000 loss 3. What is the pension asset or liability at year-end? a. 1,600,000 liability b. 1,600,000 asset 800,000 liability d. c. 800,000 asset