Solution-Determine the amount of net gain or loss to be

Determine the amount of net gain or loss to be amortized

Assignment Help Accounting Basics

Reference no: EM131776462

Question

The San Francisco Sailors has 200 employees who are expected to receive benefits under the company's defined-benefit pension plan. The total number of service-years of these employees is 2,000. The actuary for the company's pension plan calculated the following net gains and losses:

For the year ended December 31st: Gain/(Loss)

2014 $640,000

2015 ($554,000)

2016 $990,000

Prior to 2014, there was no unrecognized net gain or loss.

Information about the company's projected benefit obligation and fair value (market-related) of plan assets follows:

As of January 1, -----> 2014 2015 2016

PBO $2,100,000 $2,340,000 $2,940,000

Fair Value of Plan Assets $1,680,000 $2,460,000 $2,550,000

Based on the above information about San Francisco Sailors, determine the amount of net gain or loss to be amortized by the company as a component of pension expense for the years 2014, 2015, and 2016. The Sailors amortizes net gains or losses using the straight-line method over the average service life of participating employees.

Reference no: EM131776462

Questions Cloud

How many kanbans do they require for the bamboo back cover : Given the above information, how many kanbans do they require for the bamboo back cover?

Analyze the onset of the american labor movement : Analyze the onset of the American labor movement, and explain how it relates to the growth of national unions.

Write a note on bank reconciliation : Write a note on Bank Reconciliation, Hasbro had $2,816 million in sales and $555 million in ending accounts receivable for the current period.

Calculate break-even point for each firm in terms of revenue : Calculate the break-even point for each firm in terms of revenue. Calculate the amount of operating income (or loss) that you would expect each firm to report

Determine the amount of net gain or loss to be amortized : determine the amount of net gain or loss to be amortized by the company as a component of pension expense for the years

How would you develop healthy self-esteem efforts : How would you develop healthy self-esteem efforts within your work environment? Which efforts would be the most significant? Why?

Project management processes and methodologies : Examine program and project management processes and methodologies.

What was the net cash used for operating activities : What was the net cash used for or provided by operating activities during the year

Obtain monopolistic status-monopolistically competitive firm : Explain how a monopolistically competitive firm obtains its monopolistic status. A monopolistic firm is considering to decrease the price of its product.

User Account

All Pages

Determine the amount of net gain or loss to be amortized

Reference no: EM131776462

Reference no: EM131776462

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT