(Answered)-8.22 RECONCILE PBO/FMV OF PLAN ASSETS; COMPUTE PENSION EXPENSE. Use the information provided...

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8.22    RECONCILE 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  

 

Solution ID:10137824 | Question answered on 16-Oct-2016

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