AMR Corporation (parent company of American Airlines) reported the following (in millions). Service cost Interest on P.B.O. $381 752 Return on plan assets 608 Amortization of prior service cost 28 Amortization of net loss 169 Compute AMR's pension expense. (Enter amount in dollars, eg. 55,000,000.) Pension expense 772000000
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- The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. ($ in millions) Debit(Credit) PBO Plan Assets Prior Service Cost Net (Gain)/Loss Pension Expense Cash Net Pension (Liability)/Asset Beginning balance 450 60 55 50 Service cost (85) Interest cost (25) Expected return on assets 55 Gain/loss on assets 3 Amortization of: Prior service cost Net gain/loss (1) Loss on PBO (65) Contributions to fund 40 Retiree benefits paid Ending balance (530) 54 122 What were the retiree benefits paid?The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). ($ in millions) debit (credit) PBO Plan assets Prior service cost Net (Gain) loss Pension Expenses Cash Net Pension (Liability)/ Asset Beginning Balance (540 ) 70 Service cost 74 Interest cost Expected return on assets (27 ) Gain/loss on assets (4 ) Amortization of: Prior service cost (10 ) Net gain loss Loss on PBO (29 ) 29 Contribution to funds…The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). ($ in millions)Debit(Credit)PBO Plan Assets Prior Service Cost Net(Gain)/Loss Pension Expense Cash Net Pension (Liability)/Asset Beginning balance (740) 32 (94) Service cost 66 Interest cost 37 Expected return on assets 72 Gain/loss on assets (4) Amortization of: Prior service cost (10) Net gain/loss 5 Loss on PBO (12) Contributions to fund (49) Retiree benefits paid (69) Ending balance 745 (85) What was the net pension asset/liability reported in the balance sheet at the end of the year? Multiple Choice Net pension liability of $41 million. Net pension asset of $58 million. Net pension…
- The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). Prior ($ in millions) Debit(Credit) Plan Service Net Pension Net Pension PBO Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset Beginning balance Service cost (700) 28 (90) 62 Interest cost 49 Expected return on assets Gain/loss on assets 68 (2) Amortization of: Prior service cost Net gain/loss (7) Loss on PBO (8) Contributions to fund (45) Retiree benefits paid (65) 730 (81) Ending balance What was FRC's pension expense for the year? Multiple Choice $44 million. Next > < Prev 20 of 39 Show Question no....pages Question no....pagesi -pdf MacBook Air($ in millions) debit (Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/ loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance Multiple Choice What was Herring's prior service cost at the beginning of the year? $92 million. $64 million. $78 million. Prior Net Plan Service (Gain) Pension PBO Assets Cost (580) $82 million. (33) (59) 59 (667) 335 (14) 78 Loss Expense Cash 82 (4) 33 102 86 (31) (80) Net Pension (Liability)/Asset (333)Items Balance, Jan. 1, 2025 (a) Service Cost (b) Interest Cost (c) Actual Return (d) Contributions (e) Benefits Journal Entry for 2025 Balance, Dec. 31, 2025 The service cost for 2025 is O $115000. O $6000. O $37000. O $38000. Annual Pension Expense ?? dr 15000 dr General Journal Entries 16000 cr $37000 Pharoah Corporation Pension Worksheet Cash $37000 cr ?? Show Transcribed Text Pension Asset/ Liability ?? Memo Record Projected Benefit Obligation $115000 cr $115000 dr ?? Plan Assets ??
- The following information relates to Oriole, Incorporated: Plan assets (at fair value) Pension expense Projected benefit obligation Annual contribution to plan Accumulated OCI (PSC) For the Year Ended December 31, ○ $0. O $540000. O $2460000. O $174000. 2025 $1608000 765000 1980000 810000 630000 2026 $2286000 594000 2460000 594000 540000 The amount reported as the liability for pensions on the December 31, 2026 balance sheet isUse the following information for questions 1 through 3. The following information for Cooper Enterprises is given below: December 31, 2015 Assets and obligations Plan assets (at fair value)$400,000 Accumulated benefit obligation640,000 Projected benefit obligation700,000 Other Items Pension asset / liability, January 1, 201520,000 Contributions 250,000 Accumulated other comprehensive loss335,800 There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 12 years. 1.What is the pension expense that Cooper Enterprises should report for 2015? a. $304,200 b. $314,200 c. $250,000 d. $335,800 2.What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2015? a. $60,000 b. $640,000 c. $300,000 d. $700,000 3.The amortization of Other Comprehensive Loss for 2016 is: a.$0 b.$15,580 c.$22,150 d.$33,580The actuary for the pension plan of Carla Vista Company calculated the following net gains and losses: Incurred during the Year (Gain) or Loss 2025 $(634,000) 2026 250,000 2027 1,020,000 2028 393,000 Other information about the company's pension obligation and plan assets is as follows: Projected Benefit As of January 1 Obligation Plan Assets (market-related asset value) 2025 $3,957,000 $3,563,000 2026 4,608,000 3,543,000 2027 4,690,000 3,729,000 2028 5,257,000 4,386,000 Carla Vista Company has a stable labor force of 250 employees who are expected to receive benefits under the plan. The total service- years for all participating employees are 2,750. The beginning balance of Accumulated OCI (G/L) is zero on January 1, 2025. The market-related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization. Compute the minimum amount of Accumulated OCI (G/L) amortized as a component of net…
- Tristan Company has a retirement benefit plan for its retirees.The following balances relate to this plan as of December 31,2007: Actuarial loss 190,000 Prior service cost 150,000 Accrued benefit obligation 980,000 Fair value of plan assets 500,000 How much should appear as Retirement Benefit Liability (Accrued) on December 31,2007? a. 520,000b. 440,000c. 480,000d. 140,000beow the defined benefit pension plan of Equinox Co Ltd for the year2019: Plant Assets $ in 000 Balance at January 01, 2019 600Expected return on plan assets 61Contribution received 49Benefits paid -40Actuarial gain (balancing figure) 15 685 Plant Liabilities: Balance at January 01, 2019 640Interest cost 52Current Service Cost 21Benefit paid -40Actuarial gain (loss) (balancing) 42 715 Calculate: i. Pension expense to be recognised in profit or loss for the year ended December 31, 2019. ii. Net liabilities to be shown in the Statement of Financial Position as of December 31, 2019The following refers to the pension spreadsheet (columns have missing amounts) for the current year for First Republic Corporation (FRC). Plan PSC- Net Loss (Gain)- Pension Net Pension РВО Cash Assets AOCI AOCI Exp. Status Begin Balance 450 60 55 40 Service Cost (85) Interest Cost (25) Expected Return 55 Gain/Loss on 3 assets Amo. of PSC Amo. of Loss/Gain (1) Loss on PBO (65) Contribution to 40 fund Benefit payment End Balance (530) 54 122 What was the FRC's benefit payment?
