Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bingo land inc. has a defined benefit pension for

Bingo Land Inc. has a defined benefit pension for their employees. For the fiscal year...

60.1K

Verified Solution

Question

Accounting

Bingo Land Inc. has a defined benefit pension for their employees. For the fiscal year 2019, the PBO beginning balance was $1,800. During the year, Service cost was $400. There was a Loss on PBO of ($150) during the year. The discount rate used by the actuaries is 6%. Plan assets had a beginning balance of $1,200 for 2019. The plan return was $ 144 with an expected return of $96 for the year. The net loss on pension beginning balance was ($50) at 1/1/2019. Bingo Land contributed $ 50 to plan assets at the end of the year. What is Bingo Lands pension expense for 2019?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Calculus
1.2K views

For the real-valued functions g(x)=x + 1 and h(x)=?x-4, find the composition goh and specify...

Advance Math
1.2K views

Let x,y ∈ R satisfy x < y. Prove that there exists a q ∈ Q such...

Medical Sciences
1.2K views

1) Explain the anatomical breakdown of a muscle. 2) What is excitation-contraction coupling? 3) Explain the sliding...

Accounting
1.2K views

The RVRCOB Holdings is a conglomerate that operates in multiple industries. Each firm it owns...

Accounting
1.2K views

purchased the assets of a competing business and paid cash for the following :land,100,00;lodge,530,000;and fishing...

Accounting
1.2K views

Question 22 Not yet answered Points out of 4.00 (For questions 22-25). You can use...

Accounting
1.2K views

On March 1, Sather Co. sold merchandise to Boone Co. on account, $29,800, terms 2/15,...

Accounting
1.2K views

calculate net present value, profitbliltiy index, internal Rate of Return for option A and B

Accounting
1.2K views

A vehicle purchased on March 1st, 2017 for $ 100,000 with a residual value of...

Accounting
1.2K views

Question 6 Which is correct regarding setting up a QuickBooks Payments account for a...

Finance
1.2K views

Compute the variance-covariance matrix. from the returns data, I just need to know about the...

Accounting
1.2K views

Match each of the following terms with the most accurate example. Use each example only...