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1. (TCO C) Presented below is pension information...

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1. (TCO C) Presented below is pension information related to Woods, Inc. for the year 2013. Service cost $76,000 Interest on projected benefit obligation $47,000 Interest on vested benefits $24,000 Amortization of prior service cost due to increase in benefits $12,000 Expected return on plan assets $18,000 The amount of pension expense to be reported for 2013 is (Points : 5) $159,000. $117,000. $105,000. $141,000. 2. (TCO C) Kasper, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2013. Service cost $260,000 Contributions to the plan $250,000 Actual return on plan assets $240,000 Projected benefit obligation (beginning of year) $2,700,000 Fair value of plan assets (beginning of year) $2,900,000 The expected return on plan assets and the settlement rate were both 9%. The amount of pension expense reported for 2013 is (Points : 5) $503,000.00. $260,000.00. $242,000.00. $263,000.00. 3. (TCO C) A pension asset is reported when (Points : 5) the fair value of the pension plan assets is less than the accumulated benefit obligation. the fair value of the pension plan assets is less than the accumulated benefit obligation and a prior service cost exists. the accumulated benefit obligation is less than the fair value of the pension plan assets. the projected benefit obligation is less than the fair value of the pension plan assets. . 4. (TCO C) Kathy's Kittens, Inc. has provided the following information for their post-retirement benefits plan for 2013. Service cost $860,000 Discount rate 10% APBO, January 1, 2013 $5,200,000 EPBO, January 1, 2013 $5,600,000 Average remaining service to full eligibility 20 years Average remaining service to expected retirement 25 years The amount of post-retirement expense for 2013 is (Points : 5) $1,380,000. $1,588,000. $1,640,000. $1,420,000.,Hi I am still waiting answers for this one too. Thanks.

 

Paper#12997 | Written in 18-Jul-2015

Price : $25
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