答案和详解如下： Q7. According to the information above, the funded status of Longhorn’s pension plan is closest to: A) underfunded by $6,115,000. B) overfunded by $6,115,000. C) underfunded by $14,110,000. Correct answer is C) A plan is underfunded when the PBO exceeds the fair market value of the plan assets. In this case, the PBO exceeds the plan assets by $14,110,000 (= $85,475,000 − 71,365,000). Q8. Moore reads in the footnotes to Longhorn’s financial statements that the pension plan’s PBO balance increased by $5,000,000 last year. Of this amount, approximately 50% was attributed to benefits earned by its employees that year. The remaining 50% was attributed to a change in the pension plan’s actuarial assumptions. Which one of the following changes to actuarial assumptions would cause an increase in PBO? A) A decrease in the discount rate. B) A decrease in the rate of compensation growth. C) A decrease in the expected rate of return. Correct answer is A) Decreasing the assumed discount rate used to calculate the present value of the pension obligations will increase the PBO. Q9. Ignoring taxes, what adjustment is necessary to Longhorn’s net pension liability and other comprehensive income in order to comply with current U.S. accounting standards? Net pension liability
Other comprehensive income
A) Decrease $8,660,000 Increase $8,660,000 B) Increase $14,110,000 Decrease $14,110,000 C) Increase $8,660,000 Decrease $8,660,000 Correct answer is C) According to current U.S. accounting standards, the funded status must be reported on the balance sheet. The plan is underfunded by $14,110,000 ($71,365,000 Plan assets – $85,475,000 PBO). Since Longhorn is reporting a liability of $5,450,000, an additional liability of $8,660,000 ($14,110,000 required liability – $5,450,000 reported liability) must be reported. The increase in net pension liability is offset by a decrease in other comprehensive income. | 
发表于 2009-1-17 14:40
| 
