At December 31, 2020, Sheffield Corporation had a projected benefit obligation of $ 614,800, plan assets of $ 316,800, and prior service cost of $ 125,900 in accumulated other comprehensive income. Determine the pension asset/liability at December 31, 2020.
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At December 31, 2020, Sheffield Corporation had a projected benefit obligation of $ 614,800, plan assets of $ 316,800, and prior service cost of $ 125,900 in accumulated other comprehensive income.
Determine the pension asset/liability at December 31, 2020.
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- At December 31, 2020, Metlock Corporation had a projected benefit obligation of $504,700, plan assets of $342,200, and prior service cost of $128,700 in accumulated other comprehensive income.Determine the pension asset/liability at December 31, 2020.At December 31, 2020, Sarasota Corporation had a projected benefit obligation of $614,800, plan assets of $316,800, and prior service cost of $125,900 in accumulated other comprehensive income.Determine the pension asset/liability at December 31, 2020. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Pension asset/liability at December 31, 2020 $enter the pension asset/liability at December 31, 2017 in dollarsSplish Corporation has the following balances at December 31, 2020. Projected benefit obligation $2,464,000 Plan assets at fair value 1,906,000 Accumulated OCI (PSC) 1,155,000 What is the amount for pension liability that should be reported on Splish' balance sheet at December 31, 2020? Pension liability balance at December 31, 2020:
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- At December 31, 2020, Coronado Corporation had a projected benefit obligation of $573,800, plan assets of $346,700, and prior service cost of $130,500 in accumulated other comprehensive income.Determine the pension asset/liability at December 31, 2020. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Pension asset/liability at December 31, 2020 = ?The following information is related to the pension plan of Long, Inc. for 2021. Actual return on plan assets $170,000 Amortization of net gain 123,000 Amortization of prior service cost 130,000 Expected return on plan assets 190,000 Interest on projected benefit obligation 235,000 Service cost 690,000 Compute pension expense for 2021.Sandhill Co. had the following selected balances at December 31, 2021: Projected benefit obligation $4,640,000 Accumulated benefit obligation 4,540,000 Fair value of plan assets 4,285,000 Accumulated OCI (PSC) 165,000 Calculate the pension asset/liability to be recorded at December 31, 2021. Pension $
- Under the defined-benefit pension plan for a company, the expected return on plan assets is $124,000 and actual return on plan assets is $269,000 in 2021. To record the unexpected gain/loss due to asset returns, the company will (enter 1, 2, 3, or 4 that represents the correct answer): Debit Other Comprehensive Income-Gain/Loss Credit Pension Expense Debit Pension Expense Debit Plan AssetsAt January 1, 2025, Crane Company had plan assets of $254,500 and a projected benefit obligation of the same amount. During 2025, service cost was $26,600, the settlement rate was 10%, actual and expected return on plan assets were $24,500, contributions were $20,800, and benefits paid were $16,800. Prepare a pension worksheet for Crane for 2025.The following facts apply to the pension plan of Splish Inc. for the year 2020. Plan assets, January 1, 2020 $525,500 Projected benefit obligation, January 1, 2020 525,500 Settlement rate 8% Service cost 36,800 Contributions (funding) 23,800 Actual and expected return on plan assets 49,800 Benefits paid to retirees 30,300 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts.