Reference no: EM133070441

Question - Barrel Corporation had service and interest costs of $90,000 related to its defined benefit pension plan for the year ended December 31, Year 7. The company's unrecognized prior service cost was $600,000 at December 31, Year 6 and the average remaining service life of the company's employees was 20 years. Plan assets earned an expected and actual return of 10% during Year 7. The company made contributions to the plan of $140,000 and paid benefits of $105,000 during the year. The pension plan had plan assets with a fair value of $770,000 at December 31, Year 6. The PBO was $920,000 at December 31, Year 6. What is funded status of Barrel Corporation's pension plan at December 31, Year 7?