INT.ACCT. LL W/CONNECT+PROCTORIO PLUS
10th Edition
ISBN: 9781266374395
Author: SPICELAND
Publisher: MCG
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Chapter 17, Problem 17.9DMP
(1)
To determine
Pension plan: This is the plan devised by corporations to pay the employees an income after their retirement, in the form of pension.
Pension expense: Pension expense is an expense to the employer paid as compensation after the completion of services performed by the employees.
Pension expense includes the following components:
- Service cost
- Interest cost
- Expected return on plan assets
- Amortization of prior service cost
- Amortization of net loss or net gain
To explain: The circumstances under which the earnings of a company increase due to pension expense or net pension cost
(2)
To determine
To explain: The actuarial assumptions which effect the increase in earnings of a company
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Question 9 of 20
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Actual return on plan assets
Amortization of net gain
Amortization of prior service cost due to increase in benefits
Expected return on plan assets
Interest on projected benefit obligation
Service cost
Pension expense for 2022 is
O $1923200.
O $1891900.
O $1168600.
O $1614000.
$336900
134700
241400
368200
580100
1295400
Question 4 of 19
View Policies
<
Current Attempt in Progress
The following information is related to the pension plan of Wildhorse, Inc. for 2021.
Actual return on plan assets
Amortization of net gain
Amortization of prior service cost due to increase in benefits
Expected return on plan assets
Interest on projected benefit obligation
Service cost
Pension expense for 2021 is
$3075000.
O $2691000.
O $2604000.
O $3024000.
$490000
210000
390000
541000
815000
2150000
Question 19 of 20
View Policies
The settlement rate is 9%. Other data related to the pension plan for 2026 are:
Benefits paid
Actual return on plan assets
Amortization of net gain
$2850000
O $2777000.
O $2850000.
O $3180000.
O $2955000.
2350000
Amortization of prior service costs due to increase in benefits
Contributions
The fair value of plan assets at December 31, 2026 is
$235000
74000
435000
160000
330000
17000
Chapter 17 Solutions
INT.ACCT. LL W/CONNECT+PROCTORIO PLUS
Ch. 17 - Prob. 17.1QCh. 17 - Prob. 17.2QCh. 17 - Prob. 17.3QCh. 17 - What is the vested benefit obligation?Ch. 17 - Prob. 17.5QCh. 17 - Prob. 17.6QCh. 17 - Name three events that might change the balance of...Ch. 17 - Prob. 17.8QCh. 17 - Prob. 17.9QCh. 17 - Prob. 17.10Q
Ch. 17 - The return on plan assets is the increase in plan...Ch. 17 - Define prior service cost. How is it reported in...Ch. 17 - Prob. 17.13QCh. 17 - Is a companys PBO reported in the balance sheet?...Ch. 17 - What two components of pension expense may be...Ch. 17 - Prob. 17.16QCh. 17 - Evaluate this statement: The excess of the actual...Ch. 17 - Prob. 17.18QCh. 17 - TFC Inc. revises its estimate of future salary...Ch. 17 - Prob. 17.20QCh. 17 - Prob. 17.21QCh. 17 - Prob. 17.22QCh. 17 - The components of postretirement benefit expense...Ch. 17 - The EPBO for Branch Industries at the end of 2018...Ch. 17 - Prob. 17.25QCh. 17 - Prob. 17.26QCh. 17 - Prob. 17.1BECh. 17 - Prob. 17.2BECh. 17 - Prob. 17.3BECh. 17 - Prob. 17.4BECh. 17 - Prob. 17.5BECh. 17 - Prob. 17.6BECh. 17 - Prob. 17.7BECh. 17 - Prob. 17.8BECh. 17 - Prob. 17.9BECh. 17 - Prob. 17.10BECh. 17 - Net gain LO176 The projected benefit obligation...Ch. 17 - Prob. 17.12BECh. 17 - Prob. 17.13BECh. 17 - Postretirement benefits; determine the APBO and...Ch. 17 - Prob. 17.1ECh. 17 - Prob. 17.3ECh. 17 - Prob. 17.4ECh. 17 - Prob. 17.5ECh. 17 - Prob. 17.6ECh. 17 - Prob. 17.7ECh. 17 - Prob. 17.8ECh. 17 - Prob. 17.9ECh. 17 - Prob. 17.14ECh. 17 - Prob. 17.17ECh. 17 - Prob. 17.23ECh. 17 - Prob. 17.32ECh. 17 - Prob. 17.33ECh. 17 - Prob. 17.1DMPCh. 17 - Prob. 17.2DMPCh. 17 - Prob. 17.3DMPCh. 17 - Prob. 17.5DMPCh. 17 - Prob. 17.6DMPCh. 17 - Prob. 17.8DMPCh. 17 - Prob. 17.9DMPCh. 17 - Prob. 17.11DMPCh. 17 - Prob. 1CCTCCh. 17 - Prob. 2CCTC
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