Carla Vista Company has a defined-benefit plan. At the end of 2021, it has determined the following information related to its pension plan: Projected benefit obligation $ 1210000 Accumulated benefit obligation 1075000 Fair value of pension plan assets 980000 The amount of pension liability that is reported in Carla Vista's balance sheet at the end of 2021 is $95000. $365000. $135000. $230000.
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Carla Vista Company has a defined-benefit plan. At the end of 2021, it has determined the following information related to its pension plan:
Projected benefit obligation | $ | 1210000 | |
Accumulated benefit obligation | 1075000 | ||
Fair value of pension plan assets | 980000 |
The amount of pension liability that is reported in Carla Vista's balance sheet at the end of 2021 is
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- Given the following information for Tyler Companys pension plan at the beginning of the year, calculate the corridor, excess net loss (gain), and amortized net loss (gain). Assume an average remaining service life of 15 years.Wildhorse Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2025 Projected benefit obligation at January 1, 2025 Accumulated OCI (PSC) at January 1, 2025 Interest/discount (settlement) rate Compute the pension expense for the year 2025. Pension expense for 2025 $89,400 105,700 10,800 64,500 40,200 640,200 710,100 152,200 10%Kingbird Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) Accumulated benefit obligation (December 31) Actual and expected return on plan assets Contributions (funding) in 2020 Fair value of plan assets (December 31) Settlement rate Projected benefit obligation (January 1) Service cost (a) Your answer is correct. Compute pension expense. Pension expense for 2020 $ Account Titles and Explanation Pension Expense Pension Asset/Liability $27,200 Cr. 403,300 11,000 150,600 794,200 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. Preparation of a pension worksheet is not required. Benefits paid in 2020 were $37,100. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Cash 10 % 696,900 79,420 138110…
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