M Question 23- SET - CH 17 HW X QBO Satnav + education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%252Fw... Wi Saved statement effects; two years [LO17-3, 17-4, 17-5, 17-6, 17-7, 17-8] [The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024: Prior service cost at January 1, 2024, from plan amendment at the beginning of 2022 (amortization: $4 million per year) Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) $ 32 million $ 40 million 10 years 8% 2 Beginning of 2024 PBO $ 300 Beginning of 2024 Plan Assets $ 200 Service cost 48 Interest cost, 8% 24 Return on plan assets, 7.5% (10% expected) Loss (gain) on PBO (2) Cash contributions Less: Retiree benefits (20) Less: Retiree benefits End of 2024 $ 350 End of 2024 15 45 (20) $ 240 ✰ ☐ Help Save & E Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025: ($ in millions) Beginning of 2025 PBO $ 350 Service cost 38 Interest cost, 3% 28 Loss (gain) on PBO 5 Cash contributions Less: Retiree benefits (16) Beginning of 2025 Return on plan assets, 15 % (10% expected) Less: Retiree benefits End of 2025 $ 405 End of 2025 #4 80 $ #3 W E 888 % 25 < Prev 23 of 23 Next > MacBook Pro ^ 6 07 & R T Y U Plan Assets $ 240 36 30 (16) $ 290 00 * ) 8 9 0 Che S D F G H J K L P x M Question 23-SET - CH 17 HW x QBO Satnav .mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fbb.tulsacc.edu%252Fw... ⭑ 17 HW i End of 2025 Saved $ 405 End of 2025 $ 290 Help Save & Exit Problem 17-16 (Static) Part 7 7. Prepare a pension spreadsheet to assist you in determining end of 2025 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign. ($ in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash k Net Pension (Liability) or Asset Balance, January 1, 2025 Service cost t Interest cost, 8% Expected return on assets Gain or Loss on PBO Amortization of: Prior service cost-AOCI Net loss-AOCI Gain or Loss on PBO Cash contributions + Balance, December 31, 2025 0.0 0.0 0.0 0.0 0.0 0.0 Retiree benefits 2 #3 80 < Prev ♡ 23 of 23 Next $ Ad 4 888 % 5 ^ 6 MacBook Pro W E R T Y S 7 &フ כ U O 8 - 9 O O 0 Check m D F G H J K L X C V B N M V P A

M Question 23- SET - CH 17 HW X QBO Satnav + education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%252Fw... Wi Saved statement effects; two years [LO17-3, 17-4, 17-5, 17-6, 17-7, 17-8] [The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024: Prior service cost at January 1, 2024, from plan amendment at the beginning of 2022 (amortization: $4 million per year) Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) $ 32 million $ 40 million 10 years 8% 2 Beginning of 2024 PBO $ 300 Beginning of 2024 Plan Assets $ 200 Service cost 48 Interest cost, 8% 24 Return on plan assets, 7.5% (10% expected) Loss (gain) on PBO (2) Cash contributions Less: Retiree benefits (20) Less: Retiree benefits End of 2024 $ 350 End of 2024 15 45 (20) $ 240 ✰ ☐ Help Save & E Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025: ($ in millions) Beginning of 2025 PBO $ 350 Service cost 38 Interest cost, 3% 28 Loss (gain) on PBO 5 Cash contributions Less: Retiree benefits (16) Beginning of 2025 Return on plan assets, 15 % (10% expected) Less: Retiree benefits End of 2025 $ 405 End of 2025 #4 80 $ #3 W E 888 % 25 < Prev 23 of 23 Next > MacBook Pro ^ 6 07 & R T Y U Plan Assets $ 240 36 30 (16) $ 290 00 * ) 8 9 0 Che S D F G H J K L P x M Question 23-SET - CH 17 HW x QBO Satnav .mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fbb.tulsacc.edu%252Fw... ⭑ 17 HW i End of 2025 Saved $ 405 End of 2025 $ 290 Help Save & Exit Problem 17-16 (Static) Part 7 7. Prepare a pension spreadsheet to assist you in determining end of 2025 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign. ($ in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash k Net Pension (Liability) or Asset Balance, January 1, 2025 Service cost t Interest cost, 8% Expected return on assets Gain or Loss on PBO Amortization of: Prior service cost-AOCI Net loss-AOCI Gain or Loss on PBO Cash contributions + Balance, December 31, 2025 0.0 0.0 0.0 0.0 0.0 0.0 Retiree benefits 2 #3 80 < Prev ♡ 23 of 23 Next $ Ad 4 888 % 5 ^ 6 MacBook Pro W E R T Y S 7 &フ כ U O 8 - 9 O O 0 Check m D F G H J K L X C V B N M V P A

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 3.2C

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