12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.

Intermediate Accounting II BSA 2nd Year Bloc1

Intermediate Accounting II Pre-Final

IA Prefinal Exam
Submissions
Here are your latest answers:

Question 1
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the ending balance of FVPA?

Response: 4,600,000

Correct answer: 4,600,000

Score: 1 out of 1 Yes

Question 2
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the employee benefit expense?

Response: 1,095,000

Correct answer: 1,095,000

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Score: 1 out of 1 Yes

Question 3
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the employee benefit expense?

Response: 1,140,000

Correct answer: 1,140,000

Score: 1 out of 1 Yes

Question 4
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the ending balance of PBO?

Response: 5,470,000

Correct answer: 5,470,000

Score: 1 out of 1 Yes

Question 5
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the ending balance of accrued/prepaid benefit cost?

Response: 135,000

Correct answer: 135,000

Score: 1 out of 1 Yes

Question 6
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the ending balance of PBO?

Response: 4,965,000

Correct answer: 4,965,000

Score: 1 out of 1 Yes

Question 7
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the employee benefit expense?

Response: 1,055,000

Correct answer: 1,064,000

Score: 0 out of 1 No

Question 8
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the accrued/prepaid benefit cost during the year?

Response: 110,000

Correct answer: 110,000

Score: 1 out of 1 Yes

Question 9
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the ending balance of accrued/prepaid benefit cost?

Response: 610,000
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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Correct answer: 610,000

Score: 1 out of 1 Yes

Question 10
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the ending balance of FVPA?

Response: 4,600,000

Correct answer: 4,600,000

Score: 1 out of 1 Yes

Question 11
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the remeasurement gain/loss on plan asset?

Response: 220,000

Correct answer: 220,000

Score: 1 out of 1 Yes

Question 12
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000
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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the ending balance of PBO?

Response: 5,210,000

Correct answer: 5,210,000

Score: 1 out of 1 Yes

Question 13
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the net remeasurement gain/loss on plan asset?

Response: 110,000

Correct answer: 110,000

Score: 1 out of 1 Yes

Question 14
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the ending balance of accrued/prepaid benefit cost?

Response: 870,000

Correct answer: 870,000

Score: 1 out of 1 Yes

Question 15
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the remeasurement gain/loss on plan asset?

Response: 185,000

Correct answer: 185,000

Score: 1 out of 1 Yes

Question 16
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the accrued/prepaid benefit cost during the year?

Response: 365,000

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Correct answer: 374,000

Score: 0 out of 1 No

Question 17
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the net remeasurement gain/loss on plan asset?

Response: 30,000

Correct answer: 30,000

Score: 1 out of 1 Yes

Question 18
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Settlement price of DBO 200,000
PV of BDO settled 250,000
Discount rate 9%

How much is the net remeasurement gain/loss on plan asset?

Response: 185,000

Correct answer: 185,000

Score: 1 out of 1 Yes

Question 19
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the remeasurement gain/loss on plan asset?

Response: 140,000

Correct answer: 140,000

Score: 1 out of 1 Yes

Question 20
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 4,000,000
PBO 3,500,000

Asset Ceiling 400,000

During the current year, the following transactions are gathered:

Current service cost 700,000

Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 9%
Ending asset ceiling 600,000

How much is the ending balance of FVPA?

Response: 5,100,000

Correct answer: 5,100,000

Score: 1 out of 1 Yes

Question 21
At the beginning of the current year, the memorandum records in relation to a defined benefit plan showed the following:

FVPA 3,500,000
PBO 4,000,000

During the current year, the following transactions are gathered:

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12/5/2020 Instructions - Intermediate Accounting II BSA 2nd Year Bloc1 - CARD-MRI Development Institute, Inc.
Current service cost 700,000
Past service cost 400,000
Actual return on plant assets 500,000
Contribution to the plan 800,000
Benefits paid 200,000
Actuarial loss due to increase in PBO 250,000
Discount rate 8%

How much is the accrued/prepaid benefit cost during the year?

Response: 370,000

Correct answer: 370,000

Score: 1 out of 1 Yes

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