1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sasho [114]
2 years ago
10

The funded status of Hilton Paneling Inc.'s defined benefit pension plan and the balances in prior service cost and the net gain

–pensions, are given below. ($ in 000s) 2021 2021 Beginning Balances Ending Balances Projected benefit obligation $ 2,300 $ 2,501 Plan assets 2,400 2,591 Funded status 100 90 Prior service cost–AOCI 325 300 Net gain–AOCI 330 300 Retirees were paid $270,000, and the employer contribution to the pension fund was $245,000 at the end of 2021. The expected rate of return on plan assets was 10%, and the actuary’s discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO. Required: 1. Determine the actual return on plan assets of 2021. 2. Determine the loss or gain on plan assets of 2021. 3. Determine the service cost of 2021. 4. Determine the pension expense of 2021. 5. Average remaining service life of active employees (used to determine amortization of the net gain).
Business
1 answer:
krok68 [10]2 years ago
4 0

Answer:

1. Actual return on Plat assets

= Ending plan assets - beginning assets - employer contribution + retirees payment

= 2,591 - 2,400 - 245 + 270

= $216,000

2. Gain(loss) on plan assets

= Actual return - expected return

= 216,000 - (10% * 2,400,000-beginning assets)

= ($24,000) loss

3. Service cost

= Ending Projected benefit obligation - Beginning Projected benefit obligation - Interest cost + Retiree benefits

= 2,501 - 2,300 - (7% * 2,300) + 264

= $304,000

4. Pension expense

= Interest cost + expected return + Amortization of prior service cost + amortization of net gain + Service cost

= Interest cost + expected return + (beginning prior service cost - ending prior cost) + (Beginning net gain - ending net gain - loss on plan asset)  + Service cost

= (7% * 2,300)  + 240 + (325 - 300) + (330 - 300 - 24) + 304

= $736,000

5. Average remaining service life of active employees

= (Beginning Net gain - expected return) / Amortization of net gain

= (330 - 300) / (330 - 300 - 24)

= 5 years

You might be interested in
Jerome, Sheila, Gary, and Ella agreed to purchase a tract of land and make it available for use as a free playground for neighbo
lesya [120]

Answer:

Yes

Explanation:

The damages can be recovered as Jerome and Gary hung the playground swing improperly. A child was injured due to their negligent actions. The case will be on Meadowbrook Playground and not on the individual person who has committed the mistake. According to law, the damages can be recovered as the enterprise owned the whole property, and due to their carelessness in the installation of swing, the accident took place. The child's parent has every right to recover damages from the playground owner.

7 0
3 years ago
Your total sales during a six-hour shift were $1,200. Your individual performance in terms of sales per hour would be:
Anit [1.1K]

Answer:

b. $200

Explanation:

The computation of the individual performance is shown below:

= Total sales ÷ number of shift hours

= $1,200 ÷ 6 hours

= $200

It means that per hour, the individual performance is $200

We simply divide the total sales by the number of shift hours, so that the sales per hour can determined

It shows a relationship between the total sales and the number of shift hours

4 0
3 years ago
Today, a firm has a stock price of $14.26 and an EPS of $1.15. Its close competitor has an EPS of $0.48. What would be the expec
serg [7]

Answer:

$5.952

Explanation:

For the computation of expected price of the competitor's stock first we need to find out the P/E ratio of a firm which is shown below:-

P/E ratio of a firm = Stock price ÷ Earning per share

= $14.26 ÷ $1.15

= $12.4

Price of competitor's stock = P/E ratio of a firm × Earning per share

= $12.4 × $0.48

= $5.952

Therefore for computing the expected price of the competitor's stock we simply applied the above formula.

7 0
3 years ago
An insurance producer wishing to do business under any name other than their legal name must notify the Commissioner:
Fiesta28 [93]

Answer:

prior to using the <u>Assumed names</u>

Explanation:

An insurance producer must get himself or his organization registered before doing any business of insurance.

For this there are certain rules as related to the names of such business.

There is the requirement to follow the rules and regulations.

If some person does this business not in his name, and uses some other assumed name, that is any kind of "insurance" word is used for example, "Life Insurance Co." then the person is required to take a prior permission from the commissioner.

This is to ensure that the name shall not be registered with some other organization.

Thus, no assumed names to be used, before prior permission is received from the commissioner.

7 0
3 years ago
An idea from monetarism that has been absorbed into mainstream macroeconomics would be the Multiple Choice effects of aggregate
vladimir1956 [14]

Answer:

ghghghghtrgbygdklkjhyutrgewq

Explanation:

5 0
2 years ago
Other questions:
  • Deep Mining and Precious Metals are separate firms that are both considering a silver mining project. Deep Mining is in the actu
    10·1 answer
  • Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,
    6·1 answer
  • "Scott Manufacturing Co.'s static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric
    10·1 answer
  • You can spend $100 on either a new economics textbook or a new CD player. If you choose to buy the new economics textbook, the o
    6·1 answer
  • Joan, is a jewelry designer who had created a unique new jewelry piece called a neacklet. It can be either a necklace or a brace
    10·1 answer
  • True or False<br><br> To start a corporation, you need to have a partnership agreement.
    8·1 answer
  • $800 of supplies were purchased at the beginning of the month and the Supplies account was increased. As of the end of the perio
    8·1 answer
  • The inflation rate is measured by calculating the percentage change in the consumer price index. True or False
    15·1 answer
  • Two countries, cadmia and palladia, have formed a free trade agreement. this has resulted in cadmia importing sugar from palladi
    5·1 answer
  • Your employer is trying to select from a list of possible capital projects. The projects, along with their cost and benefits, ar
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!