1. (TCO C) Presented below is pension information related to Woods, Inc. for the year 2013. Service cost $76,000 Interest on projected benefit obligation $47,000 Interest on vested benefits $24,000 Amortization of prior service cost due to increase in benefits $12,000 Expected return on plan assets $18,000 The amount of pension expense to be reported for 2013 is (Points : 5)

$159,000. $117,000. $105,000. $141,000.

Question 2. 2. (TCO C) A pension asset is reported when (Points : 5)

the fair value of the pension plan assets is less than the accumulated benefit obligation. the fair value of the pension plan assets is less than the accumulated benefit obligation and a prior service cost exists. the accumulated benefit obligation is less than the fair value of the pension plan assets. the projected benefit obligation is less than the fair value of the pension plan assets.

Question 3. 3. (TCO C) Post-retirement benefits may include all of the following except (Points : 5)

tuition assistance. dental care. severance pay to laid-off employees. legal and tax services.