The following information for Blossom Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $840000 Accumulated benefit obligation 1360000 Projected benefit obligation 1450000 Other Items Pension asset / liability, January 1, 2021 40000 Contributions 460000 Accumulated other comprehensive loss 753700 There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years. What is the amount that Blossom Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? $1360000 $90000 $1450000 $610000

The following information for Blossom Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $840000 Accumulated benefit obligation 1360000 Projected benefit obligation 1450000 Other Items Pension asset / liability, January 1, 2021 40000 Contributions 460000 Accumulated other comprehensive loss 753700 There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years. What is the amount that Blossom Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? $1360000 $90000 $1450000 $610000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 6RE

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The following information for Sheridan Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $720000 Accumulated benefit obligation 1235000 Projected benefit obligation 1325000 Other Items Pension asset / liability, January 1, 2021 35000 Contributions 410000 Accumulated other comprehensive loss 628700 There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years.What is the amount that Sheridan Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? $1325000 $90000 $1235000 $605000
Everdeen Corporation has the following information provided below: December 31, 2022 Assets and obligations Plan assets (at fair value) $200,000 Accumulated benefit obligation 370,000 Projected benefit obligation 400,000 Other Items Pension asset / liability, January 1, 2022 10,000 Contributions 120,000 Accumulated other comprehensive loss 167,900 There were no actuarial gains or losses at January 1, 2022. The average remaining service life of employees is 10 years. What is the amount that Everdeen should report as its pension liability on its balance sheet as of December 31, 2022? Question 17 options: a) $400,000 b) $200,000 c) $370,000 d) $30,000
Everdeen Corporation has the following information provided below: December 31, 2022Assets and obligations Plan assets (at fair value) $200,000 Accumulated benefit obligation 370,000 Projected benefit obligation 400,000 Other Items Pension asset / liability, January 1, 2022 10,000 Contributions 120,000 Accumulated other comprehensive loss 167,900 There were no actuarial gains or losses at January 1, 2022. The average remaining service life of employees is 10 years. The amortization of Other Comprehensive Loss for 2023 is: Question 16 options: a) $16,790 b) $0 c) $23,000 d) $12,790
Use 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.$33,580
The following information for Clark Enterprises is given below. December 31, 2021 Assets and obligations Plan assets (at fair value) $600,000 Accumulated benefit obligation 1,110,000 Projected benefit obligation 1,200,000 Other comprehensive loss due to Pensions in 2021 403,700 The average remaining service life of employees is 10 years. Indicate the amount of amortization of Other Comprehensive Loss for 2022 would be recorded in 2022 and how it would impact pension expense.
The following information for EE Company is given below: December 31, 2020 Assets and obligations Plan assets (at fair value) P100,000 Defined benefit obligation 200,000 Other Items Pension asset / liability, January 1, 2020 5,000 Contributions 60,000 Accumulated OCI(Gain/Loss) 83,950 There was no accumulated OCI at January 1, 2020. The average remaining service life of employees is 10 years. Question: What amount should EE report as its pension liability on its statement of financial position as of December 31, 2020?
Under the defined-benefit pension plan for a company, the expected return on plan assets is $124,000 and actual return on plan assets is $269,000 in 2021. To record the unexpected gain/loss due to asset returns, the company will (enter 1, 2, 3, or 4 that represents the correct answer): Debit Other Comprehensive Income-Gain/Loss Credit Pension Expense Debit Pension Expense Debit Plan Assets
The following information for Cooper Enterprises is given below: December 31, 2015 Assets and obligations Plan assets (at fair value) $400,000 Accumulated benefit obligation 640,000 Projected benefit obligation 700,000 Other Items Pension asset / liability, January 1, 2015 20,000 Contributions 250,000 Accumulated other comprehensive loss 335,800 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 amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2015? $60,000 $640,000 $300,000 $700,000 The amortization of Other Comprehensive Loss for 2016 is: $0 $15,580 $22,150 $33,580
The following information for Cooper Enterprises is given below: December 31, 2015 Assets and obligations Plan assets (at fair value) $400,000 Accumulated benefit obligation 640,000 Projected benefit obligation 700,000 Other Items Pension asset / liability, January 1, 2015 20,000 Contributions 250,000 Accumulated other comprehensive loss 335,800 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
The following information for Cooper Enterprises is given below: December 31, 2015 Assets and obligations Plan assets (at fair value) $400,000 Accumulated benefit obligation 640,000 Projected benefit obligation 700,000 Other Items Pension asset / liability, January 1, 2015 20,000 Contributions 250,000 Accumulated other comprehensive loss 335,800 There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 12 years. What is the pension expense that Cooper Enterprises should report for 2015? 414,200 What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2015? $60,000 $640,000 $300,000 $700,000 The amortization of Other Comprehensive Loss for 2016 is: $0 $15,580 $22,150 $33,580
The Pension Expense in a pension plan for the year were recorded at $856,800. In addition, an amount of $161,400 had been debited to the Other Comprehensive Income account to record all actuarial losses for the year. In addition, the company had contributed a cash amount of $350,000 to the Plan Assets. What would have been the amount recorded as Pension expenses for 2019 if the company were reporting under ASPE? Select one: a. $856,800. b. $757,200. c. $161,400. d. $350,000. e. None of the above.
A company had the following information at the end of 2021: Accumulated benefit obligation $162,000 Projected benefit obligation 320,000 Accumulated OCI – losses 74,500 Accumulated OCI – Prior Service Cost (PSC) 21,800 Fair value of pension plan assets 277,000 The amount reported as the pension asset/liability at December 31, 2021 is $__________________. (Just enter the amount. Do NOT put a plus or minus sign in front of the amount.)

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bartleby, a Learneo, Inc. business

		December 31, 2021
Assets and obligations
	Plan assets (at fair value)		$840000
	Accumulated benefit obligation		1360000
	Projected benefit obligation		1450000
Other Items
	Pension asset / liability, January 1, 2021		40000
	Contributions		460000
	Accumulated other comprehensive loss		753700