The value of total pension cost for the year. Given information: Fair value of plan assets at the beginning is $1,000,500. Value of PBO at the beginning is $945,000. Service cost is $400,000. Expected and actual return on plan assets is $82,500. Contribution for the year is $300,000. Amortization of prior service cost is $80,000.

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Answer 1

Question

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

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Oriole Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $54,600 cash to C. Bohr on a 12-month, 8% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $1,800, 90-day, 7% note. Received a $14,400, 180-day, 6% note to settle an open account from A. Murdock. 16 31 Accrued interest revenue on all notes receivable. Journalize the transactions for Oriole Co. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Use 360 days for calculation. If no entry is required, select "No Entry" for the account titles and enter O for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.) Date Account…

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Answer 2

Question

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

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Answer 3

Question

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

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Answer 4

Question

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

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Answer 5

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 6

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 7

Chapter 19, Problem 19.15E

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 8

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 9

b.

To determine

To prepare: The journal entry to record current year pension cost.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 10

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 11

c.

To determine

The value of closing balance of plan assets, PBO, AOCI and funded status of the plan.

Given information:

Fair value of plan assets at the beginning is $1,000,500.

Value of PBO at the beginning is $945,000.

Service cost is $400,000.

Expected and actual return on plan assets is $82,500.

Contribution for the year is $300,000.

Amortization of prior service cost is $80,000.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 19 - What is the allocation period used to expense...Ch. 19 - How do companies account for stock-based...Ch. 19 - Do companies with equity-based compensation plans...Ch. 19 - When accounting for employee stock options, will a...Ch. 19 - Prob. 19.5Q Ch. 19 - Prob. 19.6Q Ch. 19 - Prob. 19.7Q Ch. 19 - Prob. 19.8Q Ch. 19 - Prob. 19.9Q Ch. 19 - Prob. 19.10Q

Solution Summary: The author calculates the value of pension cost for the year ending amounts to 448,676. Journalizing is the process of recording the transactions of an organization in a chronological order.

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