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Subject Topic: Becker 2011 Ch. 6 Qs Pensions & Unearned (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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cpastudent2010
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Joined: 04 Aug 2010
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Posted: 07 Feb 2011 at 14:22 | IP Logged  

      How come “benefits paid” and “actual return on plan assets” are not part of the funded status reconciliation even though they are parts of the projected benefit obligation (PBO) and the Fair value of the plan assets.

      On pg. F6-17, at the top of the page it is written that the company paid $350,000 of benefits in year 2 and yet there is no journal entry for benefits paid on this page?

              On pg. F6-34, under “Service Contracts”, why is the total unearned service contract revenue at December 31, Year 1 include the amount of contracts that expired during Year 1? Shouldn’t the total unearned revenue just be year 2 - $270K + year 3 - $420K = $690K?

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