4. presented below is pension information for Welch Company for the year 2018 12

Question

4. presented below is pension information for Welch Company for the year 2018 12/31/2017 2,490,000 2,600,000 12/31/2018 actual return on plan assets 3,335,000 Fair Value of plan assets 2,870,000 Nye's contribution was S315,000 in 2018 and benefits paid were $235,000. a. 170,000 b.190,000 c.245,000 d.270,000 5. Presented below is pension information for Welch Company for the year 2018: Actual Return on plan assets 24000 service cost 30,000 interest cost 21,000 amortization of prior service cost 18,000 The amount of pension expense to be reported for 2018 is a.93,000 b.69,000 c.60,000 d.45,000

Explanation / Answer

4. Actual returnon plan assets= 190000

5. pension expense= 45000

if expected return is given, it should be used in determining pension expense

Fair value of plan assets: A Closing balance 2870000 Less: unadjusted balance opening balance 2600000 add: contribution 315000 less: benefits 235000 B unadjusted balance 2680000 C=A-B actual return 190000

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.