What was the amount of pension plan assets at year-end

Assignment Help Financial Accounting

Reference no: EM131268076

Pension plan assets were $320 million at the beginning of the year. The return on plan assets was 5%. At the end of the year, retiree benefits paid by the trustee were $14 million and cash invested in the pension fund was $18 million.

What was the amount of the pension plan assets at year-end?

The projected benefit obligation was $280 million at the beginning of the year and $300 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $12 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%.

What was the amount of the service cost for the year?

Reference no: EM131268076

Questions Cloud

Considering project that will produce cash inflows : Scott is considering a project that will produce cash inflows of $5,100 a year for 3 years. The project has required rate of return of 14 percent and an initial cost of $6,000. What is the discounted payback period?

Debit to equity ratio is for two companys in same industry : The following debit to equity ratio is for two companys in the same industry. Company A and Company Q. Debit to equity ratio 4.5 to 1, and 13.6 to 1. Which of the following statements is always true?

Which uses weighted-average process-costing system : Majestic, which uses a weighted-average process-costing system, adds materials at the beginning of production and incurs conversion cost evenly throughout manufacturing. determine the ending work-in-process inventory’s stage of completion (with regar..

Uses weighted-average process-costing system : Willingham uses a weighted-average process-costing system for its single product, which consists of Material X and Material Y. X and Y are introduced to the product as follows: The company completed 40,000 units during the period, and had an ending w..

What was the amount of pension plan assets at year-end : Pension plan assets were $320 million at the beginning of the year. The return on plan assets was 5%. At the end of the year, retiree benefits paid by the trustee were $14 million and cash invested in the pension fund was $18 million. What was the am..

Uses normal cost system-direct manufacturing labor costs : Kelsh Company had the following budgeted and actual costs for 2015: Assume Kelsh Company uses a normal cost system. The company allocates manufacturing overhead costs using direct manufacturing labor costs. Assume Kelsh Company uses a normal cost sys..

Recognized gain and basis in his new investment real estate : Baxley owned a parcel of investment real estate that had an adjusted basis of $35,000 and a fair market value of $50,000. During 2015, Baxley exchanged his investment real estate for the items of property listed below. Land to be held for investment ..

Recognize as long-term capital gain income : Lucy owns 150 shares of Apex Corp., a publicly traded company, which Lucy purchased on January 1, Year 1, for $15,000. On January 1, Year 3, Apex declared a 2- for-1 stock split when the fair market value (FMV) of the stock was $140 per share. What a..

What is the proper treatment for transactions : On March 1 of the previous year, a parent sold stock with a cost of $9,000 to her child, for $6,000, its fair market value. On September 30 of the current year, the child sold the same stock for $7,500 to Jones, who is unrelated to the parent and chi..

User Account

All Pages