Pension plan at the beginning of current fiscal year

Reference no: EM13134922

Iota Co. initiated a defined benefit pension plan at the beginning of the current fiscal year. Prior service cost was $240,000, of which $80,000 was amortized, and service cost was $60,000. Iota funded its prior service cost and its service cost with contributions of $50,000 and $60,000, respectively. No benefits were paid, and no changes in the projected benefit obligation (PBO) occurred as a result of experience different from that assumed or changes in assumptions. If the fair value of plan assets at year-end was $110,000, Iota should recognize a pension:

Reference no: EM13134922

Questions Cloud

Determine the administrative costs calculated to each : Scudder company has two operating departments: mixing and forming. Mixing has 240 employees and occupies 22,000 ft². Forming has 80 employees and occupies 18,000 ft².

Is variance of sales before announcement of increasing price : Do you believe that the variance of sales before announcement of increasing price is equal to variance of sales after announcement?

Volume of solid revolution by shell method : Using the shell method to find the volume of a solid revolving about line x = 2 by the region bounded by y=x^3 +x +1, y=1 and x=1.

Determine the amount of heat absorbed by the water : when 0.800 grams of NaOH is dissolved in 100.0 grams of water, the temperature of the solution increases from 25.00 degree to 27.06 degree .

Pension plan at the beginning of current fiscal year : Iota Co. initiated a defined benefit pension plan at the beginning of the current fiscal year. Prior service cost was $240,000, of which $80,000 was amortized, and service cost was $60,000.

Find mean and standard deviation for the random variable : Let the random variable x represent the number that are not correctly calibrated. Find the mean and standard deviation for the random variable x.

Geometry-coordinate planes : Draw a rectangular box that has P and Q as opposite vertices and has its faces parallel to the coordinate planes. Then find the coordinates of the other six vertices of the box and the length of the diagonal of the box

What is the probability that x lies between a value : You and 100 of your 200 respondents concerned about nutrition. Is this reason to believe that the percent in your area is higher than the national 40%?

Solving coordinate geometry : Find an equation of the plane that passes through the line of intersection of the planes x + y - z = 2 and 2x - y + 3z = 1 and passes through the point (-1,2,1).

User Account

All Pages