Question: need help pleasee Question 6 (3 points) Saved Howard Corp. sponsors a defined-benefit pension plan for its employees. On january 1, 2011, the following balances

Question 6 (3 points) Saved Howard Corp. sponsors a defined-benefit pension plan for its employees. On january 1, 2011, the following balances are related to is defined benefit pension plan: Plan assets market-related value) 520,000 Projected benefit obligation 660,000 Pension assetliability 140,000 Prior service cost 60,000 UEOL-Loss 95,000 On December 31, 2011, the actuary provides the following additional data: Service cost for 2011 Actual return on plan assets in 2011 Amortization of prior service cost Contributions in 2011 Benefits paid retirees in 2011 Settlement rate Expected return rate Average remaining service life of active employees (years) 72,000 42.000 8,000 60,000 40,000 8% 9% On its 2011 Income Statement, reported pension expense should be $89,570 $87,580 $93,560 $90,833 Question 7 (3 points) Howard Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2011, the following balances are related to is defined-beneft pension plan: Plan assets (market-related value) 520,000 Projected benefit obligation 660,000 Pension assoviability 140,000 Prior service cost 60,000 VEGL-Loss 95,000 On December 31, 2011, the actuary provides the following additional data: Service cost for 2011 72.000 Actual return on plan assets in 2011 42000 Amortization of prior service cost 8.000 Contributions in 2011 80.000 Benefits paid retirees in 2011 40,000 Settlement rate 8% Expected return rate 9% Average remaining service life of active employees (years) On its 2011 Balance Sheet, reported Prepaid/Accrued pension cost under liabilities should be $173,600 $ 158,970 $162,800 $156,760
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