Given the following information for the current fiscal year for Horizon Tech Corp: • • . • Beginning balance of plan assets at market value: $2,000,000 Actual return on plan assets: $180,000 Employer's contribution: $200,000 Distribution to beneficiaries: $100,000 Service cost: $150,000 Interest cost: $180,000 Changes in benefits and assumptions: $40,000 • Beginning balance of the PBO: $2,100,000 What is the ending balance of the projected benefit obligation (PBO)?

Given the following information for the current fiscal year for Horizon Tech Corp: • • . • Beginning balance of plan assets at market value: $2,000,000 Actual return on plan assets: $180,000 Employer's contribution: $200,000 Distribution to beneficiaries: $100,000 Service cost: $150,000 Interest cost: $180,000 Changes in benefits and assumptions: $40,000 • Beginning balance of the PBO: $2,100,000 What is the ending balance of the projected benefit obligation (PBO)?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 3RE: Pinecone Company has plan assets of 500,000 at the beginning of the current year and expects to earn...

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2 ($ in thousands) Discount rate, 7% Expected return on plan assets, 8% Actual return on plan assets, 7% Service cost, current year January 1, current year: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value)" Prior service cost- AOCI (current year amortization, $30) Net gain- AOCI (current year amortization, $12) There were no changes in actuarial assumptions. December 31, current year: Cash contributions to pension fund, December 31, current year Benefit payments to retirees, December 31, current year Required: 1. Determine pension expense for the current year. $ 500 3,250 2,950 3,350 420 520 435 460 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine pension expense for the current year. Note: Amounts to be deducted should be indicated with a minus sign.…
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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
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Pinecone Company has plan assets of 500,000 at the beginning of the current year and expects to earn 12% on its plan assets during the year. Pinecones service cost is 230,000, and its interest cost is 55,000. Compute Pine-cones pension expense for the current year.
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