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A partially completed pension spreadsheet showing...




A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary?s discount rate is 5%. At the end of 2005, the pension formula was amended, creating a prior service cost of $120,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two years. Required: Copy the incomplete spreadsheet and fill in the missing amounts. Informal Records Formal Records ( )s indicate credits; Prior Net Prepaid debits otherwise Plan Service Loss? Pension (Liability) ($ in 000s) PBO Assets Cost Pensions Expense Cash / Asset Balance, Jan. 1, 2007 (800) 600 114 80 (200) Service cost 84 Interest cost, 5% (40) Expected return on assets (48) Adjust for: Loss on assets 6 Amortization: Prior service cost Amortization: Net loss E 17?13 Pension spreadsheet LO8 E 17?12 Determining the amortization of net loss or net gain LO6 E 17?11 PBO calculations; ABO calculations; present value concepts LO1 LO2 LO3 870 SECTION 3 Financial Instruments and Liabilities Gain on PBO 12 Prior service cost 0 Cash funding (68) Retiree benefits Balance, Dec. 31, 2007 (862) 108,Please do it looking at the attachment. It is much simpler. You have to fill out the Pension Worksheet. Thank You.,Ok. Thank You!!! :),I was just wondering when exactly you will be done? I don't mean to rush you.


Paper#11252 | Written in 18-Jul-2015

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