AC 302 WEEK 4 Willy Exercise Questions
Exercise 20 Question 1
The following information is available for the pension plan of Radcliffe Company for the year 2014.
Actual and expected return on plan assets $ 15,000
Benefits paid to retirees 40,000
Contributions (funding) 90,000
Interest/discount rate 10 %
Prior service cost amortization 8,000
Projected benefit obligation, January 1, 2014 500,000
Service cost 60,000
Exercise 20-5
Your answer is correct.
Andrews Company has five employees participating in its defined benefit pension plan. Expected years of future service for these employees at the beginning of 2014 are as follows.
Employee Future Years of Service
Jim 3
Paul 4
Nancy 5
Dave 6
Kathy 6
On January 1, 2014, the company amended its pension plan, increasing its projected benefit obligation by $72,000.
Exercise 20-7
Your answer is correct.
The following defined pension data of Rydell Corp. apply to the year 2014.
USA 
India