Refer to the financial statements and related notes of The Coca-Cola Company in Appendix A of this book. Answer each of the questions for (a) the company’s pension benefits and (b) the company’s other benefits.
1. How much is the company’s expense in 2004?
2. How much are the company’s actual and expected return on plan assets?
3. How much is the benefit obligation at December 31, 2004?
4. Is the company in a net asset or liability position at December 31, 2004? Is this net amount greater or less than the net asset or liability reported on the balance sheet?
5. Conceptually, what were the effects of the decrease in the discount rate in 2004 on the amounts disclosed by the company (no calculations are required)?

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