Intermediate Accounting

Jun 17th, 2015
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Howard Payne University
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Problems 1 to7 are worth a total of 50 points. Record your answers directly after the questions (or as an option, in excel). Each problem is allocated a number of points; allocate your time accordingly.

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Intermediate Accounting IIQuiz #3 (Chap 19, 20), Version AAcct 311, Spring, 2015Professor: Leon Hutton, CPAStudent: ___________________________________ Date: February 25 March 1, 2015 Administrative Notes:This quiz is open book & open notes.A calulator may be used.Write directly on this exam (or at your option, you may present your answers in an excel file this is optional and not a requirement).Show your work for full credit; present your work in good form (i.e., ALL numbers displayed properly and labelled correctly)Due Date for maximum credit: Sunday, March 1, 2015 Last day quiz will be accepted with grade penalties for late submisison: Tuesday, March 3, 2015 at 11pmSolutions will be emailed on Wednesday, March 4, 2015 This quiz consists of the following:ComponentPointsProblems 1 to 7 are worth a total of 50 points. Record your answers directly after the questions (or as an option, in excel). Each problem is allocated a number of points; allocate your time accordingly. Show your work.5025 multiple choice questions allocated 2 points each.50 Total Points100Problems1.On January 1 of the current reporting year, Zheng, Inc projected benefit obligation was $30 million. During the year, pension benefits paid by the trustee were $4 million. Service cost was $10 million. Pension plan assets earned $5 million as expected. At the end of the year, there was no net gain or loss and no prior service cost. The actuary's

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