Business, 08.09.2021 22:40 jakemendes1

On January 1, 2020, Metlock Company has the following defined benefit pension plan balances. Projected benefit obligation $4,464,000
Fair value of plan assets 4,190,000

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $504,000 are created. Other data related to the pension plan are as follows.

2020 2021
Service cost $148,000 $181,000
Prior service cost amortization 0 89,000
Contributions (funding) to the plan 242,000 279,000
Benefits paid 198,000 274,000
Actual return on plan assets 251,400 264,000
Expected rate of return on assets 6% 8%

Required:
Prepare a pension worksheet for the pension plan for 2020 and 2021.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:30, maddielr17

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be

Answers: 1

continue

Business, 22.06.2019 10:30, pierrezonra

What are the positive environmental trends seen today? many industries are taking measures to reduce the use( _gold, carbon dioxide, ozone_) of -depleting substances and are turning to(_scarce, renewable, non-recyclable_) energy sources though they may seem expensive. choose one of those 3 option to fill the

Answers: 3

continue

Business, 22.06.2019 13:40, LilFabeOMM5889

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

continue

Business, 22.06.2019 16:30, allytrujillo20oy0dib

Summarize the specific methods used by interest groups in order to influence governmental decisions making in all three branches of government. provide at least two examples from each branch.

Answers: 3

continue

You know the right answer?

On January 1, 2020, Metlock Company has the following defined benefit pension plan balances. Proje...