Concept explainers
a.
The value of total pension cost for the year.
Given information:
Fair value of plan assets at the beginning is $8,010.
Value of PBO at the beginning is $9,133.
Service cost is $1,827.
Settlement rate is 8%.
Expected rate on plan assets is 4%.
Actual return on plan assets is $570.
Contribution for the year is $1,060.
Benefit paid for the year is $900.
AOCI related to prior service cost at the beginning is $2,020.
Amortization of prior service cost is $670.
Actuarial gain is $3,012.
Average remaining service life of the employee base is 5 years
b.
The value of closing balance of plan assets and PBO.
Given information:
Fair value of plan assets at the beginning is $8,010.
Value of PBO at the beginning is $9,133.
Service cost is $1,827.
Settlement rate is 8%.
Expected rate on plan assets is 4%.
Actual return on plan assets is $570.
Contribution for the year is $1,060.
Benefit paid for the year is $900.
AOCI related to prior service cost at the beginning is $2,020.
Amortization of prior service cost is $670.
Actuarial gain is $3,012.
Average remaining service life of the employee base is 5 years
c.
The value of the closing balance in accumulated other comprehensive income of current year.
d.
To prepare: The

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Chapter 19 Solutions
INTERMEDIATE ACCT.-MYLAB COMBO ACCESS
- A company produces a product that requires 3 pounds of raw material. At the end of any given month, the company wishes to have 25% of next month’s raw material requirements on hand. The company has budgeted production of the product for March, April, and May to be 10,000, 14,000, and 12,000 units, respectively. In the month of April, raw material purchases and ending inventory, respectively, will be how many pounds?arrow_forwardgeneral accountingarrow_forwardYou have reviewed the utility bills for your company. You havedetermined that the highest and lowest bills were $5,000 and $3,200 for the months of January and September. If your company produced 1,050 and 600 unitsin these months, what was the fixed cost associated with the utility bill?arrow_forward
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
