EBK INTERMEDIATE ACCOUNTING
3rd Edition
ISBN: 9780136946465
Author: SANNELLA
Publisher: VST
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Question
Chapter 19, Problem 19.17BE
a.
To determine
The value of amortization expense at the end of the year.
Given information:
Opening balance of its unamortized gain is equal to $136,000.
Opening balance of the projected benefit obligation is $1,150,000.
Opening balance of the plan asset at fair value is $1,278,000.
Average remaining service life is 20 years.
b.
To determine
The value of amortization expense at the end of the year and journal entry of it.
Given information:
Opening balance of its unamortized gain is equal to $136,000.
Opening balance of the projected benefit obligation is $1,150,000.
Opening balance of the plan asset at fair value is $1,278,000.
Average remaining service life is 20 years.
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Blue Corp., provides a noncontributory defined-benefit pension plan for its employees. The company's actuary has provided the following information for the year ended December 31, 2021:Defined benefit obligation, Dec.31, 2021 - P600,000Fair value of plan assets, Dec.31, 2021 - 825,000Service cost - 240,000Interest on defined benefit obligation - 24,000Past service cost - 60,000Expected return and interest revenue on plan assets - 33,000In its December 31, 2021 statement of financial position, Blue Corporation reported a pension asset/ liability of
Hijo Corp. is a publicly accountable entity that operates a defined benefit plan for its employees. Data relating to the pension plan is as follows:
Defined benefit obligation (DBO), December 31, 2019
$22,300,000
Plan assets, December 31, 2019
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Current service costs (CSC), December 31, 2020
2,200,000
Benefits paid to retirees, December 31, 2020
1,000,000
Actual return on plan assets, December 31, 2020
800,000
DBO, December 31, 2020, per actuary
24,000,000
Yield on high-quality corporate bonds
4%
What is the total gain or loss that will flow to the other comprehensive income (OCI) part of the statement of comprehensive income for the year ended December 31, 2020?
Question 12 options:
a)
$572,000 loss
b)
$180,000 loss
c)
$212,000 gain
d)
$392,000 gain
The following information relates to the pension plan for the employees of Blossom Co.:
Accum, beneht obligation
Projected benefit obligation
Fair value of plan assets
AOCI - net (gain) or loss
Settlement rate (for year)
Expected rate of return (for year)
1/1/20
The corridor for 2021 is
$10240000
10765000
9925000
-0-
12/31/20
$10660000
11458000
11920000
(1612000)
9%
9%
12/31/21
$ 13600000
15007000
13054000
(1780000)
9%
8%
Blossom estimates that the average remaining service life is 16 years. Blossom's contribution was $1423000 in 2021 and benefits paid
were $1087000.
Chapter 19 Solutions
EBK INTERMEDIATE ACCOUNTING
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. 19.5QCh. 19 - Prob. 19.6QCh. 19 - Prob. 19.7QCh. 19 - Prob. 19.8QCh. 19 - Prob. 19.9QCh. 19 - Prob. 19.10Q
Ch. 19 - Prob. 19.1MCCh. 19 - Prob. 19.2MCCh. 19 - Prob. 19.3MCCh. 19 - Prob. 19.4MCCh. 19 - Prob. 19.5MCCh. 19 - Prob. 19.6MCCh. 19 - Prob. 19.7MCCh. 19 - Prob. 19.8MCCh. 19 - Prob. 19.1BECh. 19 - Prob. 19.2BECh. 19 - Prob. 19.3BECh. 19 - Prob. 19.4BECh. 19 - Prob. 19.5BECh. 19 - Prob. 19.6BECh. 19 - Employee Stock Options, Liability-Classified...Ch. 19 - Prob. 19.8BECh. 19 - Prob. 19.9BECh. 19 - Prob. 19.10BECh. 19 - Prob. 19.11BECh. 19 - Prob. 19.12BECh. 19 - Prob. 19.13BECh. 19 - Prob. 19.14BECh. 19 - Prob. 19.15BECh. 19 - Prob. 19.16BECh. 19 - Prob. 19.17BECh. 19 - Prob. 19.18BECh. 19 - Prob. 19.19BECh. 19 - Prob. 19.20BECh. 19 - Prob. 19.21BECh. 19 - Prob. 19.22BECh. 19 - Prob. 19.23BECh. 19 - Prob. 19.24BECh. 19 - Prob. 19.25BECh. 19 - Prob. 19.26BECh. 19 - Prob. 19.27BECh. 19 - Prob. 19.28BECh. 19 - Prob. 19.1ECh. 19 - Prob. 19.2ECh. 19 - Employee Stock Options. Equity-Classified Awards....Ch. 19 - Prob. 19.4ECh. 19 - Prob. 19.5ECh. 19 - Prob. 19.6ECh. 19 - Prob. 19.7ECh. 19 - Prob. 19.8ECh. 19 - Prob. 19.9ECh. 19 - Prob. 19.10ECh. 19 - Prob. 19.11ECh. 19 - Prob. 19.12ECh. 19 - Prob. 19.13ECh. 19 - Prob. 19.14ECh. 19 - Prob. 19.15ECh. 19 - Prob. 19.16ECh. 19 - Prob. 19.1PCh. 19 - Prob. 19.2PCh. 19 - Prob. 19.3PCh. 19 - Prob. 19.4PCh. 19 - Prob. 19.5PCh. 19 - Prob. 19.6PCh. 19 - Prob. 19.7PCh. 19 - Prob. 19.8PCh. 19 - Prob. 19.9PCh. 19 - Prob. 19.10PCh. 19 - Prob. 19.11PCh. 19 - Prob. 19.12PCh. 19 - Prob. 1JCCh. 19 - Prob. 2FSCCh. 19 - Prob. 1SSCCh. 19 - Prob. 2SSCCh. 19 - Basis for Conclusions Case 1: Are Employee Stock...Ch. 19 - Prob. 2BCC
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