Prepare the footnote required for Botburry Sheet Company in P19-9 for the current year that includes the following components of the pension disclosure:
In P19-9
Botburry Sheet Company offers all employees a defined-benefit pension plan. At the end of the current year, Botburry€™s pension plan trustee reported the following information regarding the changes in the PVD BO, the plan assets at fair value, and the funded status of the plan.

Funded Status = PVDBO - Plan Assets = $ 1,384,096 - $ 1,135,342 = $ 248,754 Net Liability
The beginning balance in the accumulated other comprehensive income account was $ 18,252 due to accumulated net actuarial losses.
Required
a. The plan obligations, the plan assets, and the funded status of the plan.
b. Amounts recognized in the statement of financial position.
c. Reconciliation of funded status (from part a) to amounts reported in the balance sheet (from part b).
d. Components of Net Periodic Benefit Cost and Other Amounts Recognized in Net Income and Other Comprehensive Income.

Transcribed Image Text:

Present Value of Defined- Benefit Obligation Benefits paid to retirees Actuarial gain 48,672 1,043,692 Beginning balance 84,744 58,084 93,932 52,316 Prior service cost Service cost Interest on PVDBO Actuarial loss 1384,096 Ending balance Plan Assets 1,006,902 Baginning balance Contributions (fundingl Actual returm (gain Ending balance 0 Actual return (loss 92,612 84,500 48,672 Benefits paid to retirees 1,135,342