1. The PBO at the beginning of the year was 849, and the NAV of plan assets...
Question:
1. The PBO at the beginning of the year was 849, and the NAV of plan assets = 740... OCI's retained profit/loss account showed a whopping credit balance (indicating retained earnings) of 314. The service period average remaining number of active employees expected to receive benefits under the plan is 8 years.
How much of the profit must be amortized this year?
2. Assets of the Pension Plan at the beginning of the year = 3,000 Contributions made to the pension plan during the year = 661 The expected return on plan assets was = 262 Benefits paid by the pension plan = 1,216 during the year. The net asset value of the Pension Plan assets at the end of the year =4000
What was the actual return on the plan assets during the year?
3. The Mass Corporation accountant is looking at a pension spreadsheet and needs your help. The bottom row of the spreadsheet shows six numbers: PBO (538).There is one number for plan assets, but the meter can't read it because the printer erased the number.
Past service costs AOCI= 58.Net loss AOCI =70, Pension expense is 40.Net Pension (Liability)/Assets = (115)
What is the amount of Plan Assets?
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello