Marigold Corporation has the following information available concerning its postretirement benefit plan for 2017. Service cost $39,200 Interest cost - 46,700 Actual and expected return on plan assets - 26,700 Compute Marigold's 2017 postretirement expense.
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- (Postretirement Benefit Expense Computation) Englehart Co. provides the following information about its postretirement benefit plan for the year 2017. Check the below image for information. InstructionsCompute the postretirement benefit expense for 2017(Postretirement Benefit Expense Computation) Kreter Co. provides the following information about its postretirement benefit plan for the year 2017. Check the below image for information. InstructionsCompute the postretirement benefit expense for 2017.(Postretirement Benefit Expense Computation) Garner Inc. provides the following information related to its postretirement benefits for the year 2017. Check the below image for information. InstructionsCompute postretirement benefit expense for 2017.
- Kingbird Corporation has the following information available concerning its postretirement benefit plan for 2020. Service cost Interest cost Actual and expected return on plan assets Postretirement expense 2020 $ $39,500 47,200 Compute Kingbird's 2020 postretirement expense. eTextbook and Media 26,200Carla Vista Corporation has the following information available concerning its postretirement benefit plan for 2025. Service cost Interest cost Actual and expected return on plan assets Postretirement expense 2025 LA $36,500 Compute Carla Vista's 2025 postretirement expense. $ 43,900 25.800Hukle Company has provided the following information pertaining to its postretirement plan for 2017: Service cost $ 240,000 Benefit payment made at 12/31 110,000 Interest on accumulated postretirement benefit obligation 40,000 Prior service cost amortization 10,000 Required: Calculate Hukle Company’s 2017 net postretirement benefit cost.
- Happy Woolly Inc. provides the following information about its postretirement benefit plan for the year 2019. (In Euros) Service cost €90,000 Contribution to the plan €56,000 Actual return on plan assets €2,000 Benefits paid € 40,000 Plan assets at January 1, 2019 €710,000 Defined postretirement benefit obligation at January 1, 2019 €760,000 Accumulated OCI (Loss) at January 1, 2019 100 (Dr-Loss) Discount (interest) rate 9% Required: Compute the postretirement benefit expense for 2019 and give your explanation!Sunland Inc. provides the following information related to its post-retirement health-care benefits for the year 2020: Defined post–retirement benefit obligation at January 1, 2020 $114,000 Plan assets, January 1, 2020 45,800 Actual return on plan assets, 2020 4,000 Discount rate 11% Service cost, 2020 56,200 Plan funding during 2020 22,200 Payments from plan to retirees during 2020 6,200 Actuarial loss on defined post-retirement benefit obligation, 2020 (end of year) 26,300 Sunland Inc. follows IFRS. Calculate the post–retirement benefit expense for 2020. Post–retirement benefit expense 2020 $enter the Post–retirement benefit expense in dollars eTextbook and Media Calculate the post-retirement benefit remeasurement gain or loss—other comprehensive income (OCI) for 2020. Post-retirement benefit remeasurement select an option…Ivanhoe Corp. provides the following information about its post-retirement health-care benefit plan for the year 2020: Current service cost Contribution to the plan Actual return on plan assets Benefits paid Plan assets at January 1, 2020 Defined post-retirement benefit obligation at January 1, 2020 Discount rate (a) $204,500 Post-retirement benefit expense $ 47,750 141,950 91,000 1,597,600 1,823,100 11% Assuming Opsco follows IFRS, calculate the post-retirement benefit expense for 2020.
- 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)Crane Company provides the following information about its defined benefit pen plan for the year 2025. (a) Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31. 2025. (Enter all amounts as positive.)In 2019, Magenta Corporation paid compensation of 45,300 to the participants in a profit sharing plan. During 2019, Magenta Corporation contributed 13,200 to the plan. a. Calculate Magentas deductible amount for 2019. b. Calculate the amount of any contribution carryover from 2019.
