PENSION PLANS Blue Inc. adopted a pension plan for its employees on January 1, 2018. Blue...

 

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PENSION PLANS Blue Inc. adopted a pension plan for its employees on January 1, 2018. Blue gave credit for past services which resulted in unrecognized prior service cost and Projected Benefit Obligation of $400,000. The actuary has provided the following pension related data for 2018 and 2019. Accumulated benefit obligation Projected benefit obligation Fair value of plan assets Contribution (made at year end) Benefit payments PBO Gain or (loss) REQUIRED: a. b. For the year ended December 31 2018 $420,000 The actual and expected return on plan assets was 9% over the two years but the settlement rate was 12% for 2018 and 10% for 2019. The service cost was $45,000 and $50,000 for 2018 and 2019, respectively. The average remaining service life per employee is 20 years. C. 433,000 200,000 200,000 -0- 60,000 2019 $470,000 513,000 272,700 60,000 5,300 8,000 Calculate the amount of unrecognized gain or loss that would be amortized as a component of pension expense for 2018 and 2019. Calculate the amount of net periodic pension expense that the company would recognize for 2018 and 2019. Prepare all required journal entries related Blue Inc.'s pension plan for 2018 and 2019. PENSION PLANS Blue Inc. adopted a pension plan for its employees on January 1, 2018. Blue gave credit for past services which resulted in unrecognized prior service cost and Projected Benefit Obligation of $400,000. The actuary has provided the following pension related data for 2018 and 2019. Accumulated benefit obligation Projected benefit obligation Fair value of plan assets Contribution (made at year end) Benefit payments PBO Gain or (loss) REQUIRED: a. b. For the year ended December 31 2018 $420,000 The actual and expected return on plan assets was 9% over the two years but the settlement rate was 12% for 2018 and 10% for 2019. The service cost was $45,000 and $50,000 for 2018 and 2019, respectively. The average remaining service life per employee is 20 years. C. 433,000 200,000 200,000 -0- 60,000 2019 $470,000 513,000 272,700 60,000 5,300 8,000 Calculate the amount of unrecognized gain or loss that would be amortized as a component of pension expense for 2018 and 2019. Calculate the amount of net periodic pension expense that the company would recognize for 2018 and 2019. Prepare all required journal entries related Blue Inc.'s pension plan for 2018 and 2019.

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Using the ideal gas equation of state PV mRT where P is pressure V is specific volume mis mass ... View the full answer