Given the following information for current fiscal year Given the following information for current fiscal yearBeginning balance of plan assets at market value - $1,560,000actual return on plan assets - 210,000employer's contribution - 150,000distribution to beneficiaries - 75,000Service cost - 125,000Interest cost- 156,000Changes in benefits and assumptions - 35,000Beginning balance of the PBO - 1,580,000What is the ending balance of the projected benefit obligation(PBO?)a. $1,730,000b. $1,821,000c. $1,896,000d. $1,971,000

Step 1: Define Projected benefit obligationA company provides many benefits to its employees other…

Answered: Given the following information for…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter15: Capital Investment Analysis

Section: Chapter Questions

Problem 15.3.1P

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Given the following items and amounts, compute the actual return on plan assets: fair value of plan assets at the beginning of the period $9,500,000, benefits paid during the period $1,400,000, contributions made during the period $1,000,000, and fair value of the plan assets at the end of the period $10,150,000.
Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10%REQUIRED:6. Compute the employee benefit expense for the current year7. Compute the net remeasurement loss for the current year8. Compute the defined benefit cost9. Compute the amount of prepaid benefit cost that should be reported on December 31
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3. Compute the fair value of plan assets at year-end see pic for the problem
Jeff Irvin Company provided the following information for the current year: Current service cost 500,000 Interest on PBO 600,000 Interest income on plan asset 350,000 Loss on settlement 250,000 Past service cost during the year 300,000 Actual return on plan asset 850,000 Actuarial loss during the year 200,000 Contribution to the plan 1,500,000 What is the total defined benefit cost? O 1,700,000 O 800,000 O 1,000,000 O 1,500,000
REQUIRED:2. Compute the net remeasurement gain for the current year
The following is the total figures over the lifetime oi a project • Revenue (P&L): $300m • Opex (P&L): $50m • Working capital adjustments: $0m • Construction capex: $90m • Interest During Construction (IDC) and Financing Fees (FF): $10m • Maintenance capex: $0m • Tax paid (geared): $30m • Tax paid (ungeared): $50m • Interest paid: $20m • Principal paid: $70m • Equity injection: $30m Calculate the total of CFADS over the lifetime of the project. O $100m O $180m O $200m O $220m O $250m O $280m
Fair value of plan asset, January 1, 2014 2,000,000Total actual return on plan asset: Interest income – actual 200,000 Gain on remeasurement 100,000 300,000Tax rate on defined benefit 15%Expected rate of return on the asset 7%Discount rate 6%Contribution during the year 500,000 What is the fair value of the plan asset as of December 31, 2014?
The actual return on plan assets __is equal to interest expenses accrued each year on the projected benefit obligation, just as it does on any discounted debt. __includes interest, dividends, and changes in the fair value of the fund assets. __is equal to the expected rate of return times the fair value of the plan assets at the beginning of the period. __is equal to the change in the fair value of the plan assets during the year.
You are given the following data for a project that is to be evaluated using the APV method. Year EBIT CAPEX 0 O $201.765 O $193,822 O $185,617 O $222,872 O $213,918 1 $127.000 $60,000 2 Depreciation Increase in NWC Year-end net debt $80,000 Cost of net debt = 8% Unlevered cost of capital = 11.8% Corporate tax rate = 30% Calculate the total value of the project at t = 0. using the APV method. $72,000 $50,000 $100,000 $133,000 $40,000 $80,000 $60,000 $140,000 3 $138.500 $10,000 $84,000 $30,000 $140,000
49) A Capital Projects Fund awards the construction of a building to a construction contractor at a contract cost of $1,000,000. What entry is prepared by the Capital Projects Fund? A) Debit Expenditures $1,000,000, Credit Liability $1,000,000 B) Debit Building $1,000,000, Credit Expenditures $1,000,000 C) Debit Other Financing Uses $1,000,000, Credit Expenditures $1,000,000 D) Debit Encumbrances $1,000,000, Credit Reserve for Encumbrances $1,000,000 50) Which statement below is incorrect with respect to the Government-wide financial statements? A) All governmental fund categories must convert to the modified accrual basis of accounting. B) It is necessary to eliminate interfund balances within the governmental funds. C) Capital lease liabilities associated with governmental funds must be included on the Government-wide financial statements. D) All fixed assets and long-term debt for governmental funds must be included on the Government-wide financial statements.
Based on the project data presented in the table, calculate for each of the projects the revenue that would be recognized using (a) cash and (b) straight accrual methods. In addition, calculate (c) the revenue using the percentage-of-completion method and the gross profit to date using the percentage-of-completion method.

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