Bluff Countys schedule of changes in net pension liability and related ratios is shown below. Required Compute
Question:
Required
Compute the missing amounts.
Transcribed Image Text:
BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM Schedule of Changes in the County's Net Pension Liability and Related Ratios Last Three Fiscal Years 2020 2019 2018 Total pension liability $ 123,225 $125,440 $ 127,950 182,580 Service cost Interest 169,960 (a) 1,250 Differences between expected and actual experience Benefit payments (including refunds of employee contributions) (850) 625 (248,000) 66,205 (217,960) (0) 1,927,550 (p) (g) 75,590 (h) (1) Net change in total pension liability Total pension liability, beginning Total pension liability, ending Plan fiduciary net position Contributions-employee Contributions-employer 2,083,715 (b) 32,450 $ 36,240 98,620 18,990 (a) 91,550 (21,510) 102,530 Net investment income (1) Benefit payments (including refunds of employee contributions) (51,330) (2,840) (r) (64,500) (3,290) (42,780) (3,110) 80,500 Administrative expenses Net change in plan fiduciary net position Plan fiduciary net position, beginning Plan fiduciary net position, ending Net pension liability, ending Plan fiduciary net position as a percentage of total pension liability Covered payroll Net pension liability as a percentage of covered payroll (c) (d) 1,220,490 $ 929,430 (k) (1) (m) 1,011,680 1,057,720 (s) 54.62% 52.67% (e) (f) 185.09% $ 489,810 (n) 194.86% (t)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
a 66205 123225 1250 248000 189730 b 2083715 66205 2149920 c 32450 98620 18990 64500 3290 82270 d 122...View the full answer
Answered By
Ashok Kumar Malhotra
Chartered Accountant - Accounting and Management Accounting for 15 years.
QuickBooks Online - Certified ProAdvisor (Advance - QuickBooks Online for 3 years.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Question Posted:
Students also viewed these Business questions
-
Bluff County's schedule of changes in net pension liability and related ratios is shown below. Required Compute the missing amounts. BLUFF COUNTY EMPLOYEE RETIREMENT SYSTEM Schedule of Changes in the...
-
Is a statement of changes in net worth required when presenting personal financial statements?
-
Changes in the net pension liability affect amounts reported on both balance sheets and statements of resource flows. The following was taken from a pension note of Geffen County. During the year...
-
Discuss the ways that managed care organizations can infl uence the adoption of new technologies.
-
Briefly outline the ups and downs of Clara Barton (Founder of the Red Cross) and her impact on Public Administration or (Non profit).
-
Use Exercise 10.7.3 to prove that if f C([a, b] Ã [c, d]), then f(x, y)dy dx- fx.)dx) dy
-
Compare the rightmost terms of Eqs. 9.14 and 9.16 to determine whether, in any two-particle system subject to a single, constant external force, \(\Delta E\) is larger than, equal to, or smaller than...
-
The following information is extracted from the accounting records of the Shelton Corporation at the beginning of 2007: Accounts Receivable .........$63,000 Allowance for Doubtful Accounts.....1,400...
-
(a) Identify and explain the various ways through which government can intervene and assist upcoming Small entrepreneurs to grow and sustain their enterprises. (b) Explain the rationale behind SWOT...
-
The common-size balance sheets from four companies follow: Amazon.com, an Internet book retailer; Alcoa, a major producer of aluminum products; Wendys, a fast-food services organization; and Delta...
-
What is the value of reporting expenses by function and nature? What is the FASBs position on who should disclose expense information by function and nature?
-
What criteria must be met before an NFP organization can record donated services? If the criteria are met, how should donated services be recorded? Give examples to support your answer.
-
Solve each equation. (4m - 7) = -27
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. A disadvantage of a sole proprietorship is the diffi culty the owner faces in raising money...
-
Suppose that capital income taxes are based on nominal interest rates. If the inflation rate decreases by 2 percent a year, explain and use appropriate graphs to illustrate the effect of the fall in...
-
Consider the regression model \(y_{i}=\beta_{1}+\beta_{2} x_{i}+\beta_{3} z_{i}+\beta_{4} q_{i}+e_{i}\), where \(E\left(e_{i} \mid \mathbf{X} ight)=0\), with \(\mathbf{X}\) representing all...
-
Rice, an African American woman, was denied employment as a public health representative by the city of St. Louis for lack of a college degree. Failing to obtain relief after filing a complaint with...
-
Compute the price of an Asian option in a Bachelier framework, i.e., compute \[\mathbb{E}\left(\left(\int_{0}^{T}\left( u s+\sigma W_{s} ight) d s-K ight)^{+} ight) \]
-
It is thought that exercising early in the morning will provide better energy throughout the day. To test this idea, participants are recruited and randomly assigned to one of two groups: Members of...
-
Software Solution is family-owned business that has been in operation for more than 15 year. The board of directors is comprised of mainly family members, plus a few professionals such as an...
-
Identify some of the characteristics of a governments citizens that can affect the governments financial condition. Explain how the characteristics affect financial condition.
-
Identify financial ratios that would be helpful in assessing a governments budgetary solvency.
-
The 2010 CAFR for the City of Detroit indicates that in the fall of 2009, Moodys Investors Service downgraded the general obligation debt rating from Ba2 to Ba3. Information from the MD&A of the 2010...
-
A 0.810-kg ball has a velocity of 4.16 m/s to the right. Calculate the momentum of the ball in kg m/s. What velocity does a 10.-g bullet need to have in order to have the same momentum as the ball?...
-
Develop a SWOT analysis of Coles potential business. b. Can Cole be profitable and if so, in what period of time? c. What are the major business assumptions that require verification? d. Does Cole,...
-
The current temperature is 12 oC and the dew point is -29 oC. What is the relative humidity in percentage? Answer to one decimal place. The current temperature is 12 oC and the dew point is -29 oC....
Study smarter with the SolutionInn App