Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries
Question:
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2011:
Required:
1. Determine Douglas-Roberts' pension expense for 2011 and prepare the appropriate journal entries to record the expense.
2. Prepare the appropriate journal entry(s) to record any 2011 gains and losses.
3. Prepare the appropriate journal entry to record the cash contribution to plan assets.
4. Prepare the appropriate journal entry to record retiree benefits.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Requirement 1 in millions Pension expense calculated below 88 Plan assets expected return on assets ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Question Posted:
Students also viewed these Accounting questions
-
Prepare general fund journal entries to record the following cash transfers that a city made from its general fund to other funds. Be sure your entry reflects the nature of the transfer. 1....
-
Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds of Pitts Co.: March 1: Issued $2,000,000 face value Pitts Co. seconds mortgage,...
-
Prepare the general journal entries to record the following transactions of the Quinones County General Fund: 1. Quinones County borrowed $1,000,000 by issuing six-month tax anticipation notes...
-
While a CEO may put pressure on a management accountant to present the financial statement which presents the company in the "best possible light", the management accountant has an obligation to...
-
Each of the following proposed mechanisms for the free-radical chlorination of methane is wrong. Explain how the experimental evidence disproves each mechanism. (a) Cl2 + hv Cl2* (an activated form...
-
A shop has four machinists to be assigned to four machines. The hourly cost of having each machine operated by each machinist is as follows: However, because he does not have enough experience,...
-
Carbon monoxide is measured in San Francisco on five different days, and the mean of those five values is 0.62 parts per million. Four of the values (in parts per million) are 0.3, 0.4, 1.1, and 0.7....
-
A proton of total energy E collides elastically with a second proton at rest in the laboratory. After the collision the two protons follow trajectories which are disposed symmetrically at angles /2...
-
Assume that Concrete Creations used the FIFO method rather than the weighted average method in its process costing system. Determine the equivalent units of production for the Forming Department for...
-
Sherrys utility is US and her income is YS. Marshas utility is UM and her income is YM. Suppose it is the case that: Define the Pareto efficient redistribution, and explain why the concept is...
-
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate...
-
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. List A List B 1....
-
A firm's balance sheets for year-end 2011 and 2012 contain the following data. What happened to investment in net working capital during 2012? All items are in millions of dollars. Cash Flows and...
-
a) [15 points] Modify the following C code so that the recursion is tail-recursion. b) [25 points] Translate the tail recursion version into ARM assembly code. funct (int x) { if (x
-
Martin Corporation reported the following income and expenses for the year ended. Gross receipts from sales $260,000 Dividends received from25% owned corporation $65,000 Dividends received from 16%...
-
Good marketing consists of telling the right story to the right people at the right time . Now that we know who the right people are, it's time to create the story. Develop a creative brief for your...
-
1. How could quantitative analysis aide a manager in determining if a risk to a project schedule would "impact" a deadline? 2.Define scope risk? how could you "Identify risks " and "Monitor risks"...
-
Kindly discuss the following on Pfizer Inc.: 1. An overview if Pfizer Inc. 2. What are the challenges in Zambia's COVID-19 vaccine supply chain challenges. 3. What are the challenges with Pfizer...
-
Steam at 700 bar and 600 C is withdrawn from a steam line and adiabatically expanded to 10 bar at a rate of 2 kg/min. What is the temperature of the steam that was expanded, and what is the rate of...
-
Gordon and Lisa estimate that they will need $1,875,000 in 40 years for their retirement years. If they can earn 8 percent annually on their funds, how much do they need to save annually?
-
What are three forms of deceptive advertising?
-
Ross Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $20; replacement cost, $18; selling price, $30; selling costs, $4. The normal profit is 30% of...
-
Ross Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $20; replacement cost, $18; selling price, $30; selling costs, $4. The normal profit is 30% of...
-
Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September...
-
If cosB=(1)/(2), then what is the positive value of cos(1)/(2)B, in simplest radical form with a rational denominator?
-
Date March 1 Activities Beginning inventory March 5 Purchase March 9 Sales March 18 Purchase March 25 Purchase March 29 Sales Totals 70 units 210 units Units Acquired at Cost @$50.40 per unit @...
-
In Ming's Five Step Model presented in Chapter 7, she is trying to solve Financial problems using the Five Step Model. A true B false
Study smarter with the SolutionInn App