Compute the december pbo and fmv of pension assets

Assignment Help Financial Accounting

Reference no: EM13902126

ECONCILE PBO/FMV OF PLAN ASSETS; COMPUTE PENSION EXPENSE. Use the information provided below to

a. Compute the December 31, 2010 PBO and FMV of pension assets.

b. Compute 2010 pension expense.

c. Use the financial statements effects template to show the effects on the 2010 financial statements.

Prior service cost due to 2010 amendment	$ 60,000
PBO, January 1, 2010	1,000,000
FMV, January 1, 2010	1,200,000
Settlement interest rate	7%
Expected return on plan assets	9%
Actual return on plan assets	8%
Liability loss (gain)	(40,000)
Contribution to plan trustee (made at end of year)	100,000
Service cost	115,000
Payments to retired employees	30,000

Reference no: EM13902126

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