Fin 3162 HW--Pensions, FX,

Fin 3162 HW--Pensions, FX, - 200M Euro Dividends Paid 100M...

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FIN 3162 Homework for Pensions, FX ,DTA&DTLS #1 What must have been the pension contributions made by the firm if the following info was given? Fair value of plan assets at end of the period $4,200,000 Fair value of plan assets at beginning of period 4,800,000 Benefits paid during the period 1, 620,000 Actual return on plan assets 545,000 #2 Transalte the following 12/31/07 Balance Sheet for Box’s firm’s French sub given the following: Assets 400M Euro Libilities 162M Euro Equity 238M Euro—this Equity section is composed of the following: Stock sold 1/1/07 138M Euro Income for 2007
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Unformatted text preview: 200M Euro Dividends Paid 12/31/07 100M Euro Euro FX rates Euro 1/1/07 $1.30 Euro 12/31/07 $1.42 Euro Average for 2007 $1.36 #3 Identify when the pension paln is over or under funded Beginning of the Year 2007 2008 2009 Projected Benefit Obligation $800,000 $600,000 $845,000 Market-Related Asset Value 754,000 785,000 762000 #4 Provide the correct journal entry for the following: a. Income Tax Expense $350,000 Income Tax Owed $274,000 What probably caused this? b. Income Tax Expense $1.230,000 Income Tax Owed $1,762,000 What probably caused this?...
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