Business, 02.04.2021 19:20, truesarah111
Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2016 and 2017 is as follows: 2016 2017 Service cost $100,000 (j) Interest cost on projected benefit obligation 54,000 (g) Discount rate 9% 9% Amortization of prior service cost 4,000 4,000 Plan assets (fair value), 1/1* 500,000 615,000 Projected benefit obligation, 1/1** (a) 720,000 Expected long-term rate of return on plan assets (b) 11% Amortization of net loss (d) 700 Accrued pension cost (liability), 12/31 (f) (k) Average service life of employees 10 years 10 years Pension expense (e) 110,850 Cumulative net loss, 1/1 68,000 (i) Expected return on plan assets 50,000 (h) Corridor (c) 72,000 *1/1/2018: $762,000 **1/1/2018: $857,800 Required: Fill in the blanks lettered (a) through (k). Enter amounts as positive numbers.
(a) $
(b) %
(c) $
(d) $
(e) $
(f) $
(g) $
(h) $
(i) $
(j) $
(k) $
Answers: 2
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As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm. b. implicit costs. c. operating costs. d. fixed costs.
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Determination of Pension Plan Amounts Various pension plan information of Kerem Company for 2016 and...
Mathematics, 06.06.2020 19:00
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Mathematics, 06.06.2020 19:00