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Question: Could you please show me how to get the correct answer of -13,228? ⚫ Employer Contributions 1,500 ⚫ Current service costs ⚫ Past service costs ⚫ Beginning of year PBO • End of year PBO 1,850 120 39,000 ???? • Increase due to actuarial estimates ⚫ Beginning of year plan assets 628 28,000 End of year plan assets ???? • Actuarial return on plan assets 1,795 ⚫ Benefits paid 635 ⚫ Unamortized actuarial losses (GAAP) 3,150 • Expected rate of return on plan assets 6.0% ⚫ Discount rate 7.5% What is the ending funded status? You Answered -12,937 -13,228 (with margin: 0)

Question: Could you please show me how to get the correct answer of -13,228? ⚫ Employer Contributions 1,500 ⚫ Current service costs ⚫ Past service costs ⚫ Beginning of year PBO • End of year PBO 1,850 120 39,000 ???? • Increase due to actuarial estimates ⚫ Beginning of year plan assets 628 28,000 End of year plan assets ???? • Actuarial return on plan assets 1,795 ⚫ Benefits paid 635 ⚫ Unamortized actuarial losses (GAAP) 3,150 • Expected rate of return on plan assets 6.0% ⚫ Discount rate 7.5% What is the ending funded status? You Answered -12,937 -13,228 (with margin: 0)

FINANCIAL ACCOUNTING
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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Question: Could you please show me how to get the correct answer of -13,228? ⚫ Employer Contributions 1,500 ⚫ Current service costs ⚫ Past service costs ⚫ Beginning of year PBO • End of year PBO 1,850 120 39,000 ???? • Increase due to actuarial estimates ⚫ Beginning of year plan assets 628 28,000 End of year plan assets ???? • Actuarial return on plan assets 1,795 ⚫ Benefits paid 635 ⚫ Unamortized actuarial losses (GAAP) 3,150 • Expected rate of return on plan assets 6.0% ⚫ Discount rate 7.5% What is the ending funded status? You Answered -12,937 -13,228 (with margin: 0)
Transcribed Image Text:Question: Could you please show me how to get the correct answer of -13,228? ⚫ Employer Contributions 1,500 ⚫ Current service costs ⚫ Past service costs ⚫ Beginning of year PBO • End of year PBO 1,850 120 39,000 ???? • Increase due to actuarial estimates ⚫ Beginning of year plan assets 628 28,000 End of year plan assets ???? • Actuarial return on plan assets 1,795 ⚫ Benefits paid 635 ⚫ Unamortized actuarial losses (GAAP) 3,150 • Expected rate of return on plan assets 6.0% ⚫ Discount rate 7.5% What is the ending funded status? You Answered -12,937 -13,228 (with margin: 0)
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