Oriole Company provides the following selected information related to its defined benefit pension plan for 2025.Pension asset/liability (January 1)$24,900 Cr.Accumulated benefit obligation (December 31)402,300Actual and expected return on plan assets10,900Contributions (funding) in 2025151,500Fair value of plan assets (December 31)805,100Settlement rate10%Projected benefit obligation (January 1)697,100Service cost80,510(a1)Compute pension expense.Pension expense for 2025 $B

Step 1: Step 2: Step 3: Step 4:

Answered: Oriole Company provides the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Larkspur Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $90,900 Contribution to the plan 103,000 Prior service cost amortization 9,300 Actual and expected return on plan assets 63,200 Benefits paid 39,800 Plan assets at January 1, 2020 648,600 Projected benefit obligation at January 1, 2020 706,600 Accumulated OCI (PSC) at January 1, 2020 Interest/discount (settlement) rate 148,800 Items 10 % Prepare a pension worksheet inserting January 1, 2020, balances, showing December 31, 2020. (Enter all amounts as positive.) Annual Pension Expense Cash Gener
The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2021: ($ in 000s) Jan. 1 Dec. 31 Projected benefit obligation $ 4,300 $ 4,580 Accumulated benefit obligation 3,725 3,970 Plan assets (fair value) 4,830 5,275 Interest (discount) rate, 9% Expected return on plan assets, 10% Prior service cost—AOCI (from Dec. 31, 2020, amendment) 860 Net loss—AOCI 503 Average remaining service life: 10 years Gain due to changes in actuarial assumptions 42 Contributions to pension fund (end of year) 360 Pension benefits paid (end of year) 315 Required:Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2021. (Enter credit amounts with a minus sign and debit amounts…
Sandhill Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan $91,600 104,400 Prior service cost amortization 10,800 Actual and expected return on plan assets 64,600 Benefits paid 40,300 Plan assets at January 1, 2025 650,000 Projected benefit obligation at January 1, 2025 692,000 Accumulated OCI (PSC) at January 1, 2025 150,000 Interest/discount (settlement) rate 11% (a) Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.
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