Current Attempt in Progress The following data are for the pension plan for the employees of Beaufort Company. Accumulated benefit obligation Projected benefit obligation Market-related asset value Plan assets (at fair value) Unrecognized net loss Settlement rate (for year) Expected rate of return (for year) 1/1/17 12/31/17 12/31/18 $7,350,000 $7,644,000 $9,996.000 7.998,000 8.232,000 10,689,000 7468,000 9.014,000 7,762,000 8.820,000 9,901.000 0 1,450,000 1,490.000 O $135,300. O $81,700. O $51,800. O $37,600. 8.350,000 10% 9% 9% 8% Beaufort's contribution was $1,247.000 in 2018 and benefits paid were $1.102.000 Beaufort estimates that the average remaining service life is 15 years. The actual return on plan assets in 2018 was $749,700. The unexpected gain on plan assets in 2018 was
Current Attempt in Progress The following data are for the pension plan for the employees of Beaufort Company. Accumulated benefit obligation Projected benefit obligation Market-related asset value Plan assets (at fair value) Unrecognized net loss Settlement rate (for year) Expected rate of return (for year) 1/1/17 12/31/17 12/31/18 $7,350,000 $7,644,000 $9,996.000 7.998,000 8.232,000 10,689,000 7468,000 9.014,000 7,762,000 8.820,000 9,901.000 0 1,450,000 1,490.000 O $135,300. O $81,700. O $51,800. O $37,600. 8.350,000 10% 9% 9% 8% Beaufort's contribution was $1,247.000 in 2018 and benefits paid were $1.102.000 Beaufort estimates that the average remaining service life is 15 years. The actual return on plan assets in 2018 was $749,700. The unexpected gain on plan assets in 2018 was
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4E
Related questions
Question
![Current Attempt in Progress
The following data are for the pension plan for the employees of Beaufort Company.
Accumulated benefit obligation
Projected benefit obligation
Market-related asset value
Plan assets (at fair value)
Unrecognized net loss
Settlement rate (for year)
Expected rate of return (for year)
1/1/17
O $135,300.
O $81,700.
O $51,800.
O $37,600.
$7,350,000
7,998,000
7,468,000
7,762,000
0
12/31/17 12/31/18
$7,644,000 $9,996,000
8,232,000 10,689.000
8.350,000 9,014,000
8.820,000
9,901,000
1,450,000
1,490,000
10%
995
9%
8%
Beaufort's contribution was $1,247,000 in 2018 and benefits paid were $1.102,000. Beaufort estimates that the average remaining
service life is 15 years. The actual return on plan assets in 2018 was $749,700. The unexpected gain on plan assets in 2018 was](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2c566d02-869a-4b56-bc40-c88cfbf92123%2F36ba325f-fadb-4d93-9622-962bd753b2dd%2Fke2if_processed.png&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
The following data are for the pension plan for the employees of Beaufort Company.
Accumulated benefit obligation
Projected benefit obligation
Market-related asset value
Plan assets (at fair value)
Unrecognized net loss
Settlement rate (for year)
Expected rate of return (for year)
1/1/17
O $135,300.
O $81,700.
O $51,800.
O $37,600.
$7,350,000
7,998,000
7,468,000
7,762,000
0
12/31/17 12/31/18
$7,644,000 $9,996,000
8,232,000 10,689.000
8.350,000 9,014,000
8.820,000
9,901,000
1,450,000
1,490,000
10%
995
9%
8%
Beaufort's contribution was $1,247,000 in 2018 and benefits paid were $1.102,000. Beaufort estimates that the average remaining
service life is 15 years. The actual return on plan assets in 2018 was $749,700. The unexpected gain on plan assets in 2018 was
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