Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2013 and 2014 is
Question:
Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2013 and 2014 is as follows:
Required:
Fill in the blanks lettered (a) through (k). All the necessary information is listed. It is not necessary to calculate your answers in alphabetical order.
Transcribed Image Text:
2013 2014 $100,000 Service cost Interest cost on projected benefit obligation Discount rate Amortization of prior service cost Plan assets (fair value), 1/1 Projected benefit obligation, 1/1** Expected long-term rate of return on plan assets Amortization of net loss Accrued pension cost (liability), 12/31 Average service life of employees Pension expense Cumulative net loss, 1/1 Expected return on plan assets Corridor 54,000 4,000 615,000 720,000 11% 700 4,000 500,000 10 years 110,850 10 years 68,000 50,000 72,000
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1111822361
1st edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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