Data pertaining to the postretirement health care benefit

Assignment Help Accounting Basics
Reference no: EM13485086

Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for 2013:


($ in 000s)
  Service cost $ 134
  Accumulated postretirement benefit obligation, January 1
600
  Plan assets (fair value), January 1
110
  Prior service cost-AOCI
none
  Net gain-AOCI (2013 amortization, $1)
99
  Retiree benefits paid (end of year)
87
  Contribution to health care benefit fund (end of year)
195
  Discount rate, 7%


  Return on plan assets (actual and expected), 10%



Required:
1.

Determine the postretirement benefit expense for 2013. (Enter your answer in thousands.)

Reference no: EM13485086

Questions Cloud

Why are audit objectives important in planning and : why are audit objectives important in planning and performing an audit? explain the differences between transaction
As an auditor what areas would be of interest to you if you : as an auditor what areas would be of interest to you if you discovered during the planning stages of the audit that
The city will pay for the supplies from available : the city of upper falls accounts for its inventory using the purchases method. during the year the city bought 400000
In order to reimburse the county for expenditures for : washington county assumed the responsibility of collecting property taxes for all governments within its boundaries. in
Data pertaining to the postretirement health care benefit : data pertaining to the postretirement health care benefit plan of sterling properties include the following for 2013 in
Lance lawn services reports warranty expense by estimating : lance lawn services reports warranty expense by estimating the amount that eventually will be paid to satisfy
The risk-free rate is 8 the average market return is 12 : a project will require an cash outlay of 65000 and inflows of 12000 per year for 12 years. the project is expected to
The bootsie holding company has sales exceeding 10 billion : the bootsie holding company has sales exceeding 10 billion and each of its three wholly-owned subsidiaries has sales
Rankine company estimates its bad debts expense by aging : rankine company estimates its bad debts expense by aging its accounts receivable and applying percentages to various

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  What should be the overall effect on the company monthly

The marketing manager believes that a $12,000 increase in the monthly advertising budget would result in a 160 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change?

  What is their earned income credit in the following

in 2013 amanda and jaxon stuart have a daughter who is one year old. the stuarts are full-time students and they are

  Which statement is not correct about the

which statement is not correct about the business-government-society interdependence? a. most business actions impact

  Anticipated sales for safety grip company were 42000

anticipated sales for safety grip company were 42000 passenger car tires and 19000 truck tires. rubber and steel belts

  Istead assume it is a prepayment of the next periods

assume for this part onlythat none of the 800 insurance expense had expired during theyear. instead assume it is a

  Conclusion about fairness of recorded balance

What is your conclusion about the fairness of the recorded balance in accounts payable for pinnacle manufacturing as it affects the income statement and balance sheet?

  Overstatement of the ending inventory

Will Company's independent CPA discovered that the ending inventory for 20B had been overstated by the company $2,000. Before the correction, what was the effect in the 20B income statement because of the overstatement of the ending inventory

  Compute the employer''s fica taxes for the pay period ending

Compute the employer's FICA taxes for the pay period ending December 18.  OASDI taxes HI Taxes,  OASDI taxable earnings $ HI taxable earnings $ , OASDI taxes $ HI taxes $

  Mortgage note records

Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100. Prepare the journal entry to record the retirement of the bonds before maturity at 98. Assume the balance in premium on bonds payable ..

  Stephanie martinez opened a latin fusion restaurant

Stephanie Martinez opened a Latin Fusion restaurant downtown in a large southerncity.

  Proper disclosures in the stockholders equity section

Show the proper disclosures in the stockholders' equity section of the balance sheet issued at the end of the first quarter, March 31, 2013. Assume net income of $100000 during the first quarter.

  Prepare an income statement statement of retained

tyler smith has worked in an upholstery shop for 10 years. tylers wages were 20000. lately tyler has been unhappy with

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!

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