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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Department A had 4,700 units in work in process that were 75% completed as to labor and overhead at the beginning of the period, 32,600 units of direct materials were added during the period, 35,100 units were completed during the period, and 2,200 units were 26% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories.The number of equivalent units of production for material costs for the period was a. 35,100 b. 37,300 c. 30,400 d. 32,600

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 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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