Assignment Detail

Tutors

Writing a memo to vickie plato explaining

    Assignment Instructions

    Assignment ID: FG133136146

    Question – Vickie Plato, an accounting clerk in the personnel office of Streisand Corp., has begun to compute pension expenses for 2019 but is not sure whether or not she should include the amortization of unrecognized gains/losses. She is currently working with the following beginning-of-the-year present values for the projected benefit obligation and market-related values for the pension plan:

    Projected Benefit Obligation

    Plan Assets Value

    2016

    $2,200,000

    $1,900,000

    2017

    2,400,000

    2,500,000

    2018

    2,900,000

    2,600,000

    2019

    3,900,000

    3,000,000

    The average remaining service life per employee in 2016 and 2017 is 10 years and in 2018 and 2019 is 12 years. The net gain or loss that occurred during each year is as follows.

    2016

    $280,000

    Loss

    2017

    85,000

    Loss

    2018

    12,000

    Loss

    2019

    25,000

    Gain

    Answer the following questions in the Discussion Board:

    You are the manager in charge of accounting writing a memo to Vickie Plato explaining why in some years she must amortize some of the net gains and losses and in other years she does not need to. To explain this situation fully, you must compute the amount of net gain or loss that is amortized and charged to pension expenses in each of the 4 years listed above. Include an appropriate amortization schedule, referring to it whenever necessary.

    Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2017). Financial accounting and accounting standards. Intermediate accounting (17th ed.). John Wiley & Sons, Inc.

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:
    4.6/5

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    //
    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?