Kollar.png - Kollar Company 1.Calculate pension expense for 2016 and 2017 Particulars 2016 $ 2017 $ Service Cost 700 750 Interest on Projected Benefit

Kollar.png - Kollar Company 1.Calculate pension expense for...

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Unformatted text preview: Kollar Company 1.Calculate pension expense for 2016 and 2017. Particulars 2016 $ 2017 $ Service Cost 700 750 Interest on Projected Benefit Obligation W.Note 1 460 520 (4600 * 10% );(5200 * 10%) Expected Return on Plan Assets - W. Note 2 -348 -400 ( 2900 * 12% ) ; ( 3330 * 12% ) Amortization of Prior period costs ($ 500 / 10 ) 50 50 Amortization of Net gain ($ 60 / 10 ) -6 0 Total Pension Expense 856 920 Working Note 1 Calculate Projected Benefit Obligation for the year ended 2016 and 2017 Particulars Amount Projected Benefit Obligation 31.12.2015 4100 Add:Prior Service Cost 500 4600 Interest @ 10% 460 Service cost for 2016 700 Less:Payments in 2016 -560 Balance as on 31.12.2016 5200 Add: Interest @ 10% 520 Service cost for 2016 750 Less:Payments in 2017 -630 Balance as on 31.12.2017 5840...
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  • Spring '12
  • CDG
  • 10%, Years in the future, 12%, $ 60, $ 500, $ 2017

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