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  • MBA, Ph.D in Management
    Harvard university
    Feb-1997 - Aug-2003

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    Strayer University
    Jan-2007 - Present

Category > Accounting Posted 09 May 2017 My Price 10.00

service cost

service cost $150,000

 

expected and actual return on plan assets $40,000

 

interest cost pension benefit obligation $82,000

 

amortization of loss $15,000

 

fair value plan asset at year end $800,000

 

total benefit obligation at year end $750,000

 

january 1 balance of prepaid accrued pension cost $0

 

employer contribution to plan during 2015 $250,000

 

  1. determine the components of the pension expense for 2015. create accounting entry to record pension expense.

 

2. determine whether a minimum pension liability is necessary. accounting entry for minimum pension liability amount.

 

3. what amounts related to the pension would be shown at the 2015 income statement.

 

4. what amounts related to the pension would be at balance sheet for december 31, 2015.

Answers

SuperTutor
(15)
Status NEW Posted 09 May 2017 01:05 AM My Price 10.00

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