please help me Armando Hernandez Fashions, Inc. sponsors a defined-benefit pension plan for its employees. The company's pension trust provided the following information: fair value of beginning plan assets,$569,000; projected benefit obligation at the beginning of the year, $678,000, service cost, $54,000; interest on beginning PBO, $56,900; actual loss on plan assets, $35,800, composed ofexpected gains of $50,000 and unexpected losses of $85,800; actuarial gains because of assumptions about PBO, $98,543; benefit payments made to retirees, $29,780; and contributions madeby the sponsor corporation, $86,500. There is no amortization necessary under the corridor approach. The ending balance of the PBO was previously calculated as $660,577. Determine theending balance of the plan assets and indicate the funded status of the plan at the end of the year. (Abbreviations used PBO Projected Benefit Obligation. If an input field is not used in thestatement, leave the field empty, do not select a fabel or enter a zero. Use a minus sign or parentheses if the fund status is underfunded.)Plan AssetsPlan Assets-Ending BalanceAmount

Defined Benefit Pension A defined benefit (DB) pension plan is one in which the amount you get…

the sponsors & defined-benefit pension plan for its employees. The company's pension trust provided the following information: fair value of beginning plan assets 560,000; projected benefit obligation at the beginning of the year, $678,000; service cost, $54,000; interest on beginning PBO, $56,000; actual loss on plan assets, $35,800; composed of expected gains of $50,000 and unexpected losses of $85,800; actuarial gains because of assumptions about PBO, 598,543; benefit payments made to retirees, $29,780; and contributions made y the sponsor corporation, $80,500. There is no amortization necessary under the corridor approach. The ending balance of the PBO was previously calculated as $660,577. Determine the ending balance of the plan assets and indicate the funded status of the plan at the end of the year. (Abbreviations used PBO Projected Benefit Obligation. If an input field is not used in the statement, leave the field empty, do not select a fabel or enter a zero. Use a minus sign or parentheses if the fund status is underfunded.) Tian Assais CHILD

the sponsors & defined-benefit pension plan for its employees. The company's pension trust provided the following information: fair value of beginning plan assets 560,000; projected benefit obligation at the beginning of the year, $678,000; service cost, $54,000; interest on beginning PBO, $56,000; actual loss on plan assets, $35,800; composed of expected gains of $50,000 and unexpected losses of $85,800; actuarial gains because of assumptions about PBO, 598,543; benefit payments made to retirees, $29,780; and contributions made y the sponsor corporation, $80,500. There is no amortization necessary under the corridor approach. The ending balance of the PBO was previously calculated as $660,577. Determine the ending balance of the plan assets and indicate the funded status of the plan at the end of the year. (Abbreviations used PBO Projected Benefit Obligation. If an input field is not used in the statement, leave the field empty, do not select a fabel or enter a zero. Use a minus sign or parentheses if the fund status is underfunded.) Tian Assais CHILD

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 6E

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