ACCT567 State of Nodak Problem 8-9

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ACCT567 State of Nodak Problem 8-9
Pension Plan Financial Statements. The State of Nodak operates …

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Description

ACCT567 State of Nodak Problem 8-9

ACCT567 State of Nodak Problem 8-9

Homework A+

The State of Nodak operates a Public Employees Retirement System (PERS) for all employees of the state. The pre-closing trial balance of the PERS as of June 30, 2011, follows (in thousands of dollars):

Required

  1. Prepare a statement of changes in plan net assets for the State of Nodak Public Employees Retirement System for the year ended June 30, 2011, in as much detail as possible.
  2. Prepare a statement of plan net assets as of June 30, 2011, for the State of Nodak Public Employees Retirement System.
  3. Explain how the State of Nodak (the employer) would report its participation in the state PERS at the fund level and at the government-wide level.