Determine the amount for each of the given items

Reference no: EM131791775

Question: The following information pertains to Sparta Company's defined benefit pension plan:

Service cost for 2014 was $90,000. No contributions were made or benefits paid during the year. Sparta's Accrued pension liability was $8,000 at January 1, 2014. Sparta uses the straight-line method of amortization over the maximum period permitted.

Required: Determine the amount for each of the following items:

1. Interest cost.

2. Expected dollar return on plan assets.

3. Actual return on plan assets.

4. Recognized actuarial gain (minimum amortization).

5. Recognized prior service costs.

6. Balance in the AOCI-net actuarial (gain) loss account on December 31, 2014.

Reference no: EM131791775

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