Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Student Name:
Class:
1.2%
Correct!
80,000$
Correct!
Instructor
McGraw-Hill/Irwin
Exercise 17-12
Clark Industries
Requirement 1:
Percentage
Requirement 4:
Salary at end of 2016
1.2% X Service years X Final year's salary
Clark Industries
Given Data E17-12:
Annual retirement benefit formula:
Student Name:
Class:
Balance sheet element:
Shareholders' Equity
Which elements of Warrick's balance sheet are affected by the components of pension
expense? What are the specific changes in these accounts? NOTE: because of the free-form
nature of this exercise there is no reliable way to label your answers with "Correct" or "Try
Again".
Instructor
McGraw-Hill/Irwin
Exercise 17-14
Balance sheet element:
Liabilities
Warrick Boards
Amount & direction of change:
Explanation:
Balance sheet element:
Balance sheet element:
Prior service cost-AOCI
224$
Given Data E17-14:
Service cost
Pension expense calculation (in millions):
Warrick Boards
Student Name:
Class:
( )s indicate
Prior Net Pension
credits; debits
Plan Service Net Pension (Liability)/
otherwise
PBO Assets Cost Loss Expense Cash Asset
(800) 600 114 80 (200)
Universal Products
Pension Worksheet
Balance, January 1, 2016
Exercise 17-15
McGraw-Hill/Irwin
Instructor
($ in 000s)
Prior Net Pension
Plan Service Net Pension (Liability)/
PBO Assets Cost Loss Expense Cash Asset
(800) 600 114 80 (200)
84
Partially Completed Pension Worksheet
Given Data E17-15:
Universal Products
Service cost
Balance, January 1, 2016
Student Name:
Class:
-$
150
-$
-
150$
-
150$
PBO
Balance, January 1, 2016
Actual return on plan assets
2. Plan Assets
3. Pension Expense - 2016
4. Net Pension Asset/Liability
Service cost
Interest cost
Balance, January 1, 2016
Service cost
1. Projected Benefit Obligation
Problem 17-6
McGraw-Hill/Irwin
Instructor
($ in 000s)
Calculations
STANLEY-MORGAN INDUSTRIES
10% rate of return
Given Data P17-06:
STANLEY-MORGAN INDUSTRIES
Expected plan asset earnings
Student Name:
Class:
2016 2017
520.0$ 570.0$
1,800$
1,600$
230$
Service cost
Net gain-AOCI at 1-1-2016
Balance, 1-1-2016
Requirement 1:
*PBO
**Plan Assets
***Net Gain-AOCI
2016
Balance, 1-1-2016
McGraw-Hill/Irwin
Instructor
($ in millions)
Pension Expenses
KOLLAR COMPANY
Problem 17-12
Requirement 2:
Debit Credit
583
Debit Credit
12
Debit Credit
540
2017
($ in millions)
General Journal
KOLLAR COMPANY
Requirement 4:
Account
Requirement 3:
Loss-OCI
2016
2016
Plan assets
Account
Account
2016
Pension expense
($ in millions)
General Journal
KOLLAR COMPANY
($ in millions)
General Journal
KOLLAR COMPANY
450
PBO
1,800$
400$
($ in millions)
KOLLAR COMPANY
Given Data P17-12:
Projected benefit obligation, 12/31/2014
Prior service cost, 1/2/2016
Student Name:
Class:
2,400$
2,300$
330$
Net gain, Jan. 1
Requirement 5: Average remaining service life of active employees
Problem 17-14
Requirement 1: Actual return on plan assets
Plan assets
Beginning of 2016
Requirement 3: Service cost
PBO:
McGraw-Hill/Irwin
Instructor
Beginning of 2016
HILTON PANELING, INC.
($ in 000s)
2016 2016
Beginning Ending
Balances Balances
2,300$ 2,501$
Given Data P17-14:
($ in 000s)
HILTON PANELING, INC.
Projected benefit obligation
Student Name:
Class:
Net
Prior Pension
Plan Service Net Pension Liability/
debits otherwise
PBO Assets Cost Loss Expense Cash Asset
(4,100) 4,530 840 477 430
(70) 70 -
Amortization of:
Prior service cost
AOCI
Problem 17-15
McGraw-Hill/Irwin
Instructor
Pension Spreadsheet
METRO RECREATION
($ in 000s)
( )s indicate credits;
Balance, January 1, 2016
Jan. 1 Dec. 31
Given Data P17-15:
($ in 000s)
METRO RECREATION
Pension related data:
