GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
17th Edition
ISBN: 9781260218831
Author: Libby
Publisher: MCG CUSTOM
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Chapter S, Problem 5P
To determine
Indicate the amount of defined benefit pension plan reported by Company WD on its 2012
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Analyzing and Interpreting Pension Disclosures DowDuPoint's 10-K report has the following disclosures related to its retirement plans ($ millions).
Obligations and Funded Status ($ millions)
December 31, 2018
Change in projected benefit obligations
Benefit obligations at beginning of year
$57,401
Service cost
651
Interest cost
1,638
Plan participants' contributions
29
Acturarial changes in assumptions and experience
(2,832)
Benefits paid
(3,223)
Plan amendments
34
Acquisitions/divestitures/other
(57)
Effect of foreign exchange rates
(627)
Benefit obligation at end of year
$53,014
Change in plan assets
Fair value of plan assets at beginning of year
$43,685
Actual gain on plan assets
(1,524)
Employer contributions
2,964
Plan participants' contributions
29
Benefits paid
(3,223)
Acquisitions/divestitures/other
(7)
Effect of foreign exchange rates
(462)
Fair value of plan assets at end of year
$41,462
Funded status
U.S. plan with plan assets…
Wildhorse Company provides the following information about its defined benefit pension plan for the year 2025.
Service cost
Contribution to the plan
Prior service cost amortization
Actual and expected return on plan assets
Benefits paid
Plan assets at January 1, 2025
Projected benefit obligation at January 1, 2025
Accumulated OCI (PSC) at January 1, 2025
Interest/discount (settlement) rate
Compute the pension expense for the year 2025.
Pension expense for 2025
$89,400
105,700
10,800
64,500
40,200
640,200
710,100
152,200
10%
Pension Question
Sophia Consultants Inc. has had a defined benefit pension plan since January 1, 2018.
The following represents beginning balances as at January 1, 2022:
Plan Asset $1,155,300; Defined Benefit Obligation $1,275,000; Net Pension Liability $119,700
Additional Information is as follows for 2022:
Current Service cost is $186,000 for 2022
Company Funding/Contribution is $200,000 for 2022. Funding is made on December 31 of each year.
Actual return on assets is $55,900 for 2022.
There is an increase in obligation for $29,000 due to changes in Actuarial assumptions at Dec 31, 2022.
There are payments made equal to $80,000 per year to retired employees in 2022 (payments to retirees
are made at the end of the year on December 31).
Past service cost of $85,900 from plan amendment dated December 31, 2022: liability is increased
because benefits were increased on a retroactive basis.
For 2022, the assumed interest rate is 6%. Assume IFRS.
Required:
1. Determine Defined Benefit…
Chapter S Solutions
GB 112/212 MANAGERIAL ACC. W/ACCESS >C<
Ch. S - Defining a Lessor Which of the following best...Ch. S - Prob. 2MCQCh. S - Prob. 3MCQCh. S - Prob. 4MCQCh. S - Prob. 5MCQCh. S - Prob. 6MCQCh. S - Prob. 1MECh. S - Prob. 2MECh. S - Prob. 3MECh. S - Prob. 4ME
Ch. S - Prob. 1ECh. S - Prob. 2ECh. S - Prob. 3ECh. S - Prob. 4ECh. S - Calculating a Deferred Tax Liability LOS-5 On...Ch. S - Prob. 6ECh. S - Prob. 7ECh. S - Prob. 8ECh. S - Prob. 9ECh. S - Prob. 10ECh. S - Converting Operating Leases to Capital Leases...Ch. S - Converting Operating Leases to Capital Leases...Ch. S - Computing Effective Tax Rates LOS-4 Below is...Ch. S - Prob. 4PCh. S - Prob. 5PCh. S - Prob. 6PCh. S - Analyzing Starbuckss Lease Disclosures The...Ch. S - Analyzing Disneys Income Tax Disclosures The...
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