The actuary for the pension plan of gustafson

Assignment Help Accounting Basics
Reference no: EM131109413

1. (Amortization of Accumulated OCI (G/L), Corridor Approach, Pension Expense Computation) The actuary for the pension plan of Gustafson Inc. calculated the following net gains and losses. Other information about the company's pension obligation and plan assets is as follows. Gustafson Inc. has a stable labor force of 400 employees who are expected to receive benefits under the plan. The total service-years for all participating employees is 5,600. The beginning balance of accumulated OCI G/L) is zero on January 1, 2010. The market-related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization. (Round to the nearest dollar) Prepare a schedule which reflects the minimum amount of accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2010, 2011, 2012, and 2013. Apply the "corridor" approach in determining the amount to be amortized each year.

670_11-B-A-P-P-B (65).PNG

Reference no: EM131109413

Questions Cloud

Determine the effective annual rate associated : A financial institution made a $10,000, 1-year discount loan at 10% interest, requiring a compensating balance equal to 20% of the face value of the loan. Determine the effective annual rate associated with this loan.
Calculate the total interest cost over 180 days : Using the forecast prime rate changes, answer the following questions. a. Calculate the total interest cost over 180 days for a fixed-rate loan. b. Calculate the total interest cost over 180 days for a variable-rate loan.
How much interest will the firm pay : Data Back-Up Systems has obtained a $10,000, 90-day bank loan at an annual interest rate of 15%, payable at maturity. a. How much interest (in dollars) will the firm pay on the 90-day loan? b. Find the 90-day rate on the loan.
Are realized by this change of pay period : When Tallman Haberdashery, Inc., merged with Meyers Men's Suits, Inc., Tallman's employees were switched from a weekly to a biweekly pay period. Tallman's weekly payroll amounted to $750,000. The cost of funds for the combined firms is 11%. What annu..
The actuary for the pension plan of gustafson : The actuary for the pension plan of Gustafson Inc. calculated the following net gains and losses.
Compute pension expense and prepare the journal entry : Compute pension expense and prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010.
Record pension expense and related pension transactions : Using the information in E20-13 about Erickson Company's defined benefit pension plan, prepare a 2010 pension worksheet with supplementary schedules of computations.
Calculate the approximate cost of giving up the cash : Calculate the approximate cost of giving up the cash discount from each supplier. If the firm needs short-term funds, which are currently available from its commercial bank at 16%, and if each of the suppliers is viewed separately, which, if any, of ..
Compute the amount of the other comprehensive income : Compute the amount of the other comprehensive income (G/L) as of December 31, 2010. (Assume the January 1, 2010, balance was zero.)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Aranki university medical center is a nonprofit branch of

aranki university medical center is a nonprofit branch of the city hospital system. located on the wealthy south side

  Around 500 wordsharvard professor robert kaplan is

around 500 words.harvard professor robert kaplan is recognised as one of the lsquofounding fathers responsible for the

  Compute the amount of realized gross profit to be

swift corp. a capital goods manufacturing business that started on january 4 2012 and operates on a calendar-year basis

  You just received a 5000 gift from your grandmother you

you just received a 5000 gift from your grandmother. you have decided to save this money so that you can gift it to

  Case study of outdoor supplier company

The following data were taken from the balance sheet of Outdoor Supplier Company:

  Using the effective listening guidelines in the text

Using the effective listening guidelines in the text, make three suggestions that would allow Alan to fulfill his responsibility to provide employees with critical feedback about performance and to establish a supportive climate?

  Journalize swain enterprises entries to record

Journalize Swain Enterprises entries to record - Entries for discounting notes payable

  The depreciation of the building

Which of the following is a true statement with respect to the depreciation of the building?

  Rentoul inc recently had to pay 8 interest for money that

1. it sold land having a fair value of 905000 in exchange for a 3-year zero-interest-bearing promissory note in the

  Which of the following are government transfer payments

Which of the following government transfer payments is included in the recipient's gross income? Which of the following expenditures is not a medical expense for federal tax purposes?

  Scheer corporation is involved in the business of injection

scheer corporation is involved in the business of injection molding of plastics. it is considering the purchase of a

  Advantages of small business really advantages

A re the so-called advantages of small business really advantages?Wouldn't every small-business owner like his or her business to grow into a large firm?

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