Question

On January 1, 2010, Diana Peter Company has the following defined benefit pension plan balances.
Defined benefit obligation..........................................................€4,200,000
Fair value of plan assets................................................................4,200,000
The discount rate applicable to the plan is 10%. On January 1, 2011, the company amends its pension agreement so that past service costs of €500,000 are created. Other data related to the pension plan are as follows.


Instructions
(a) Prepare a pension worksheet for the pension plan for 2010 and 2011.
(b) As of December 31, 2011, prepare a schedule reconciling the funded status with the reportedliability.


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  • CreatedJune 17, 2013
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