User Account

All Pages

Assume the net pension expense for 2011

Assignment Help Accounting Basics
Reference no: EM131002742

Herring Wholesale Company has a defined benefit pension plan. On January 1, 2011, the following pension-related data were available:
The rate of return on plan assets during 2011 was 9%, although it was expected to be 10%. The actuary revised assumptions regarding the PBO at the end of the year, resulting in a $23,000 decrease in the estimate of that obligation.

Required:

1. Calculate any amortization of the net gain that should be included as a component of net pension expense for 2011.

2. Assume the net pension expense for 2011, not including the amortization of the net gain component, is $325,000. What is pension expense for the year?

3. Determine the net loss-AOCI or net gain-AOCI as of January 1, 2012. 

Reference no: EM131002742

Questions Cloud

Design new software to keep track of people : Your local police department wants to design new software to keep track of people, property, and criminal activity. List at least three classes you think should be in the design. For each class, identify some data members and methods.
What is the probability that he makes both attempts : A basketball player makes 60% of the free throws that he attempts, except that if he has just tried and missed a free throw then his chances of making a second one go down to only 30%. What is the probability that he makes both attempts
Projected benefit obligation : Calculate each of the following amounts as of both December 31, 2011, and December 31, 2012:
Your favorite action hero or heroine : Write a person essay about your favorite action hero or heroine. Drawn from comics, television shows or computer games, why does this figure appeal to you?
Assume the net pension expense for 2011 : Assume the net pension expense for 2011, not including the amortization of the net gain component, is $325,000. What is pension expense for the year?
How many milligrams of se were contained : After this reaction is complete, nitric acid was added to dissolve the Ag2SO3 but not the Ag2Se. The Ag+ from the dissolved Ag2SO3 and the excess reagent required 16.71 mL of 0.01370 M KSCN in a Volhard titration. How many milligrams of Se were conta..
To ensure the correct level of components are selected : From your understanding of this week's readings and video, what are the top three internal computer system components that need to be considered with selecting a personal computer? Why?
Critical review of a current debate in project management : Critical review of a current debate in project management literature, Select a current debate in project management literature.
Explain misuse of statistics described in this article : Read the "Law of Averages" article. Explain in two or three sentences the misuse of statistics described in this article

Reviews

Write a Review

Accounting Basics Questions & Answers

  Materials constitute a significant part of the

materials constitute a significant part of the manufacturing costs of an organization and therefore it is essential

  Under what scenarios will the siv market arbitrage model

Under what scenarios will the SIV market arbitrage model fail to work?

  Production capacity of 15000 units manuf costs 12unit

production capacity of 15000 units. manuf costs 12unit variable 90k in fixed sampa 3unit variable and 60k fixed.

  Rider industries issued 6000000 of 8 debentures on 5112 and

rider industries issued 6000000 of 8 debentures on 5112 and received cash totalling 5098102. the bonds pay interest

  As of january 12013minnesota inc decided to change from the

as of january 12013minnesota inc. decided to change from the lifo method of inventory valuation to the fifo method. the

  Describe two principles from the conceptual framework

Describe the key accounting issue(s) arising from the ET Phone Home contract. Describe two principles from the Conceptual Framework that are relevant to this case.

  Thomasson air uses two measures of activity flights and

thomasson air uses two measures of activity flights and passengers in the cost formulas in its budgets and performance

  The company is now in the process of preparing a production

down under products ltd. of australia has budgeted sales of its popular boomerang for the next four months as follows

  Jarvis inc reported net income of 34000 for the year ended

jarvis inc. reported net income of 34000 for the year ended december 31 2011. included in net income was a gain on

  Budgeted volume-standard volume-overhead rate

Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.

  Production of the prositrons

Assume Hanson, Inc. has no alternative use for the facilities presently devoted to production of the prositrons. If the outside supplier offers to sell the prositrons for $850 each, should Hanson, Inc. accept the offer? Fully support your answer w..

  Future receipt discounted at interest rate

Swanson Company will receive $100,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $63,017. In how many years is the $100,000 received?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd