x
Info
x
Warning
x
Danger

Accounting Expert Answers & Study Resources : Page 12

The vast field of accounting contributes to one of the largest subjects in our study resources. Accounting flashcards, homework answers for textbooks & other learning aids can increase your competency in this domain instantly. Become a top student with our support. Search Now…

Expert Answers

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
150245 Resources
0 Students Benefited

Pr. 19-85—Calculating pension expense and pension plan funded status. Fernando’s Furniture Inc. sponsors a defined benefit pension plan for its employees. As of January 1, 2012, the following balances are reported: • For the year ended December 31, 2012, the pension service cost was $80,000. • The actuary’s expected rate of return on.

Homework Answers
27 Views
  • Pr. 19-85—Calculating pension expense and pension plan funded status. Fernando’s Furniture
  • Accounting
Homework Answers
View Answer

Ex. 19-80—Calculating and recording post-retirement expense. The following information is related to the Papaya Corp. post-retirement benefits plan for 2012: Instructions (a) Calculate the post-retirement benefit expense for 2012. (b) Prepare the journal entries to record post-retirement expense and the employer’s contributions for 2012.       .

Homework Answers
26 Views
  • Ex. 19-80—Calculating and recording post-retirement expense. The following information related to
  • Accounting
Homework Answers
View Answer

MULTIPLE CHOICE—CPA Adapted 58. The following information pertains to Rembrandt Inc's pension plan: If no change in actuarial estimates occurred during 2012, Rembrandt's accrued benefit obligation at December 31, 2012 would be a. $85,600. b. $100,000. c. $105,600. d. $109,600. 59. At December 31, 2012, the following information was provided by the Leonardo Corp. defined benefit pension.

Homework Answers
26 Views
  • MULTIPLE CHOICE—CPA Adapted 58. The following information pertains to Rembrandt Inc's
  • Accounting
Homework Answers
View Answer

Ex. 19-71—Measuring and recording pension expense. Pumpkin Ltd received the following information from its pension plan trustee concerning their defined benefit pension plan for the year ended December 31, 2012: For 2012, the service cost is $210,000 and the amortization of past service costs is $240,000. During 2012, Pumpkin contributed $595,000 to.

Homework Answers
28 Views
  • Ex. 19-71—Measuring and recording pension expense. Pumpkin Ltd received the following
  • Accounting
Homework Answers
View Answer

Ex. 19-78—Pension plan calculations. The following information relates to the defined benefit pension plan for the employees of Strawberry Dale estimates that the expected average remaining service life (EARSL) of the employees is 15 years. In 2012, the corporation contributed $390,000 to the plan, and the trustee paid $210,000 in benefits to.

Homework Answers
25 Views
  • Ex. 19-78—Pension plan calculations. The following information relates to the defined
  • Accounting
Homework Answers
View Answer

Ex. 19-75—Pension plan calculations and journal entries. Information about the defined benefit pension plan of Olive Corp. is as follows: The accrued pension liability was $15,000 at January 1, 2011 and $35,000 at January 1, 2012. Olive uses the deferral and amortization approach. Instructions (a) Calculate the corridor for 2012. (b) Calculate the accrued pension.

Homework Answers
19 Views
  • Ex. 19-75—Pension plan calculations and journal entries. Information about the defined
  • Accounting
Homework Answers
View Answer

Ex. 19-72—Calculating accrued pension asset/liability. Satsuma Corp. provided the following balances regarding their defined benefit pension plan at December 31, 2012: Satsuma uses the deferral and amortization approach. Instructions (a) Calculate the accrued pension asset or liability. (b) Assume the same facts as in (a) but that Satsuma had an actuarial gain of $20,000 in.

Homework Answers
22 Views
  • Ex. 19-72—Calculating accrued pension asset/liability. Satsuma Corp. provided the following balances
  • Accounting
Homework Answers
View Answer

Use the following information for questions 35 through 37. The following information is available for Figgy Enterprises Ltd for 2012. The corporation uses the deferral and amortization approach. 36. How much should the Accrued Pension Asset/Liability be increased (decreased) by at December 31, 2012? a. $120,000 increase. b. $ 84,000 decrease. c. $ 36,000 increase. d. $.

Homework Answers
26 Views
  • Use the following information for questions 35 through 37. The following
  • Accounting
Homework Answers
View Answer

PROBLEMS Pr. 20-66—Lessee accounting—capital lease. Matsushita Ltd, a private corporation adhering to ASPE, enters into a non-cancellable lease agreement on July 1, 2012, to lease equipment from Momoyama Ltd. The following data are relevant to the lease agreement: 1. The term of the lease is 4 years, with no renewal option. Payments of.

Homework Answers
20 Views
  • PROBLEMS Pr. 20-66—Lessee accounting—capital lease. Matsushita Ltd, a private corporation adhering to
  • Accounting
Homework Answers
View Answer

Ex. 20-63—Lessor accounting—sales-type lease. Albert Corp, a private corporation that adheres to ASPE, is a manufacturer of truck trailers. On January 1, 2012, Albert leases ten trailers to Einstein Inc under a six-year non-cancellable lease agreement. The following information about the lease and the trailers is provided: 1. Equal annual payments (due.

Homework Answers
27 Views
  • Ex. 20-63—Lessor accounting—sales-type lease. Albert Corp, a private corporation that adheres
  • Accounting
Homework Answers
View Answer

26. Post-retirement benefits may include all of the following except a. severance pay to laid-off employees. b. dental care. c. legal and tax services. d. tuition assistance. 27. Which of the following statements is correct about post-retirement health care benefits? a. They are generally funded. b. The benefits are well-defined and level in dollar amount. c. The beneficiary.

Homework Answers
23 Views
  • 26. Post-retirement benefits may include all of the following except a.
  • Accounting
Homework Answers
View Answer

Ex. 19-73—Pension plan calculations and journal entries. On January 1, 2012, Prune Ltd reported the following balances relating to their defined benefit pension plan: Instructions (a) Calculate the accrued benefit obligation at December 31, 2012. There are no actuarial gains or losses or past service costs. (b) Calculate the fair value of plan assets.

Homework Answers
22 Views
  • Ex. 19-73—Pension plan calculations and journal entries. On January 1, 2012,
  • Accounting
Homework Answers
View Answer

MULTIPLE CHOICE—Computational 31. Presented below is pension information related to Apple Inc. for the year 2012. The corporation uses the deferral and amortization approach. a. $216,000. b. $240,000. c. $288,000. d. $324,000. 32. Presented below is pension information related to Banana Inc. for the year 2012. The corporation uses the immediate recognition approach. The pension expense to.

Homework Answers
22 Views
  • MULTIPLE CHOICE—Computational 31. Presented below pension information related to Apple Inc.
  • Accounting
Homework Answers
View Answer

Ex. 19-77—Pension reconciliation schedule. Boysenberry Inc provides the following information about its defined benefit pension plan for the year ended December 31, 2012: Instructions Prepare a schedule to reconcile the funded status of the pension plan with the amounts that would be reported on Boysenberry Inc's balance sheet at December 31, 2012.       .

Homework Answers
26 Views
  • Ex. 19-77—Pension reconciliation schedule. Boysenberry Inc provides the following information about
  • Accounting
Homework Answers
View Answer

Ex. 19-79—Measuring and recording pension expense. The following information relates to the defined benefit pension plan for the employees of Huckleberry Ltd for 2012. The corporation uses the deferral and amortization approach.   Instructions (a) Calculate the pension expense to be reported for 2012. (b) Prepare the journal entries to record pension expense and the.

Homework Answers
22 Views
  • Ex. 19-79—Measuring and recording pension expense. The following information relates to
  • Accounting
Homework Answers
View Answer

Pr. 19-82—Preparation of a pension worksheet and pension entries. The accountant for Camberwell Corp has developed the following information regarding the company's defined benefit pension plan for 2012: Instructions (a) Using the above information, complete the pension work sheet below for 2012. Indicate credit entries by parentheses, e.g. (72,000). (b) Prepare the journal entries.

Homework Answers
23 Views
  • Pr. 19-82—Preparation of a pension worksheet and pension entries. The accountant
  • Accounting
Homework Answers
View Answer

Use the following information for questions 38 through 41. The following information relates to Gooseberry Corp for their past two fiscal years. The corporation uses the deferral and amortization approach. 41. The amount of the actuarial gain/loss at December 31, 2013 is a. $30,000 gain. b. $165,000 gain. c. $180,000 gain. d. $195,000 gain. Use the following.

Homework Answers
28 Views
  • Use the following information for questions 38 through 41. The following
  • Accounting
Homework Answers
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*