Business, 23.10.2021 15:50 danksans7011

On January 1, 2021, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fair value of plan assets $7,000,000 Unamortized prior service cost $600,000 Unamortized net Loss (gain) $930,000 Other data related to the pension plan for 2021: Service cost $ 315,000 Contributions to the plan $459,000 Benefits paid $450,000 Actual return on plan assets $468,000 Remaining working life (in years) 15 years Settlement rate 9% Expected rate of return 6% Instructions (a) Determine the projected benefit obligation at December 31, 2021. There are no net gains or losses. (b) Determine the fair value of plan assets at December 31, 2021. (c) Calculate pension expense for 2021. (d) Prepare the journal entry to record pension expense for 2021

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:20

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

Answers: 3

Answer

Business, 22.06.2019 02:30

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

Answers: 3

Answer

Business, 22.06.2019 07:30

Awell-written business plan can improve your chances of getting funding and give you more free time. improved logistics. greater negotiating power.

Answers: 1

Answer

Business, 22.06.2019 10:00

Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.

Answers: 2

Answer

You know the right answer?

On January 1, 2021, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fa...

Questions