The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2011: Required: Prepare
Question:
The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2011:
Required:
Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for2011.
Transcribed Image Text:
(S in 000s) Jan. 1 Dec. 31 S 4,100 $4,380 3,715 3,950 4,530 4,975 Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Interest (discount) rate, 7% Expected return on plan assets, 10% Prior service cost-AOCI (from Dec. 31, 2010, amendment) Net loss-AOCI Average remaining service life: 12 years Gain due to changes in actuarial assumptions Contributions to pension fund (end of year) Pension benefits paid (end of year) 840 477 340 295
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METRO RECREATION in 000s Pension related data Jan 1 Dec 31 Projected benefit obligation 4100 4...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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