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- Given the following information for Tyler Companys pension plan at the beginning of the year, calculate the corridor, excess net loss (gain), and amortized net loss (gain). Assume an average remaining service life of 15 years.The following information is related to the defined benefit pension plan of Dreamworld Company for the year ended 12/31/2020: Service cost $ 60,000 110,000 150,000 640,000 750,000 150,000 900,000 960,000 Contributions to pension plan Benefits paid to retirees Plan assets (fair value), January 11 Plan assets (fair value), December 31 Actual return on plan assets PBO, January 1 PBO, December 31 Discount rate Long-term expected return on plan assets Prior Service Cost 1/1 $ 700,000 Average remaining years of service Assuming no other relevant data exist. Required: 10 years 10% 9% A. Calculate the company's pension expense for 2020. B. Make journal entry (entries) related to the plan at 12/31/2020.The following information isavailable for the pension plan of Radcliffe Company for the year 2019.Interest revenue on plan assets $ 15,000Benefits paid to retirees 40,000Contributions (funding) 90,000Discount (interest) rate 10%Defined benefit obligation, January 1, 2019 500,000Service cost 60,000Instructionsa. Compute pension expense for the year 2019.b. Prepare the journal entry to record pension expense and the employer'scontribution to the pension plan in 2019.
- The following data relate to Voltaire Company's defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense $600 60 48 100 10 11 72 Required: Determine the amount of pension plan assets at fair value on December 31.Sunshine company has a defined benefit pension plan. Using the data available related to pension, calculate the amount of amortization of the net loss or gain that should be included as a component of pension expense for the current year? Average remaining service period of active employees Net gain, January 1 PBO, January 1 Plan assets, January 1 12 years $214,600 $1,630,000 S1,930,000 a. $21,600 b. $1,800 c. $51,600 d. $4,300Rosaria Co. sponsors a defined benefit pension plan. For the current year ended December 31, thefollowing information relevant to the plan has been accumulated:Defined benefit obligation, 1/1 P11,250,000Fair value of plan assets, 1/1 10,500,000Current service cost 1,050,000Past service cost 2,200,000Actual return on plan assets 600,000Decrease in defined benefit obligation due tochanges in actuarial assumptions300,000Discount rate 8%Requirements:1. In the working papers computations, what balance of plan assets will be determined?2. In the working papers computations, what balance of benefit obligation will be determined?3. Calculate the amount that the entity would recognize in profit or loss for the year in accordancewith the revised PAS 19.4. Calculate the amount that the entity would recognize in other comprehensive income for theyear in accordance with the revised PAS 19.
- Help Save & Exit Submit The following information is related to the defined benefit penslon plan of Dreamworld Company for the year: Service cost Contributions to pension plan Benefits paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets $ 60,000 110,000 150,000 640,000 750,000 150,000 900,000 960,000 PBO, January 1 PBO, December 31 Discount rate 10% Long-term expected return on plan assets 9% Assuming no other relevant data exist, what is the pension expense for the year? Multiple Choice $60,000. $170,000. Next > Prev 12 of 39 SI Question no...pages pdf Question no....pages MacBook AirThe following information related to Company DDD's pension plan: Plan asset, January 1, 20x8 Defined benefit obligation, January 1, 20x8 Average remaining working life of employees at January 1, 20x8 Service cost for 20x8 Discount rate at January 1, 20x8 Expected return on plan asset at January 1, 20x8 Remeasurement loss arising in 20x8 Past service cost Vesting period for past service cost 2. P950,000 1,000,000 10 years 90,000 10% 100,000 15,000 30,000 2 years What amount of defined benefit cost should be recognized during 20x8?The following data relate to Ramesh Company’s defined benefit pension plan: ($ in millions)Plan assets at fair value, January 1 $600Expected return on plan assets 60Actual return on plan assets 48Contributions to the pension fund (end of year) 100Amortization of net loss 10Pension benefits paid (end of year) 11Pension expense 72 Required:Determine the amount of pension plan assets at fair value on December 31.
- The following information is related to the defined benefit pension plan of Havana for the year: Service cost Contributions to pension plan Benefits paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets PBO, January 1 PBO, December 31 Discount rate Long-term expected return on plan assets $ 65,000 117,000 156,000 643,000 760,000 156,000 915,000 915,500 3:09 10% 9% Assuming no other relevant data exist, what is the pension expense for the year? Multiple Choice $96,630. $156,500. 2 of 16 Next > < Prev Mc Graw Hill MacBook AirThe following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) $640 64 51 108 11 15 80 Plan assets at fair value, January 1 Expected return on plan assets Actual return on plan assets Contributions to the pension fund (end of year) Amortization of net loss Pension benefits paid (end of year) Pension expense Required: Determine the amount of pension plan assets at fair value on December 31. (Enter your answers in millions. Amounts to be deducted should be indicated with a minus sign.) Pension Plan Assets Beginning of the year End of the yearThe following information relates to the pension plan for the employees of Blossom Company: Accum. benefit obligation Projected benefit obligation Fair value of plan assets AOCI - net (gain) or loss Settlement rate (for year) Expected rate of return (for year) 1/1/25 $7940000 8465000 7625000 O $26250. O $17456. O $20238. O $14188. 0 12/31/25 $8360000 9158000 9620000 (1382000) 11% 8% 12/31/26 $11300000 12707000 10754000 (1550000) 11% 7% Blossom estimates that the average remaining service life is 16 years. Blossom's contribution was $1323000 in 2026 and benefits paid were $987000. The amount of AOCI (net gain) amortized in 2026 is
