The projected benefit obligation and plan assets were $80 million and $100 million, respectively, at the beginning of the year. Due primarily to favorable stock market performance in recent years, there also was a net gain of $30 million. On average, employees' remaining service life with the company is 10 years. As a result of the net gain, what was the increase or decrease in pension expense for the year?
Answer to relevant QuestionsThe Warren Group's pension expense is $67 million. This amount includes a $70 million service cost, a $50 million interest cost, a $55 million reduction for the expected return on plan assets, and a $2 million amortization ...On January 1, 2011, Burleson Corporation's projected benefit obligation was $30 million. During 2011 pension benefits paid by the trustee were $4 million. Service cost for 2011 is $12 million. Pension plan assets (at fair ...Refer to the situation described in Exercise 17-8.Required:How might your answer differ if we assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards?Listed below are several terms and phrases associated with pensions. Pair each item from List A with the item from List B (by letter) that is most appropriately associated withit.Lorin Management Services has an unfunded postretirement benefit plan. On December 31, 2011, the following data were available concerning changes in the plan's accumulated postretirement benefit obligation with respect to ...
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