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Problem 3-7 , p . 214
Analyzing Pension Plan Disclosures
Campbell Soup
a . Explain what the service cost of $ 22.1 for Year 11 represents .
b . What discount rate did the company assume for Year 11 ? What is the effect of Campbell ’ s change from the discount rate used in Year 10 ?
c . How is the “ interest on projected benefit obligation ” computed ?
d . Actual return on assets is $ 73.4 . Does this item enter in its entirety as a component of pension cost ? Explain
e . Campbell shows an accumulated benefit obligation ( ABO ) of $ 714.4 . What is this obligation ?
f . Identify the PBO amount and explain what accounts for the difference between it and the ABO .
g . Has Campbell funded its pension expense at the end of Year 11 ?
Question 4-10 , p . 263