The value of total pension cost for the year. Given information: Fair value of plan assets at the beginning is $1,006,902. Value of PBO at the beginning is $1,043,692. Service cost is $58,084. Interest on PBOat the beginning is $135,680. Expected rate on plan assets is 9%. Actual return on plan assets is $84,500. Contribution for the year is $92,612. Benefit paid for the year is $48,672. Amortization of prior service cost rate is 20%. Actuarial loss is $18,252.

Question

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Answer 1

Question

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

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Answer 2

Question

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

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Answer 3

Question

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

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Answer 4

Question

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

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Answer 5

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

Answer 6

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

Answer 7

Chapter 19, Problem 19.8P

a.

To determine

The value of total pension cost for the year.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

Answer 8

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

Answer 9

b.

To determine

To prepare: The T account for the accumulated other comprehensive income account.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PBOat the beginning is $135,680.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Amortization of prior service cost rate is 20%.

Actuarial loss is $18,252.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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 the total pension cost for the year ending amount of 120,092.

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