Blue Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the
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Question:
Blue Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following information about the plan.
January 1, 2017 | December 31, 2017 | |||
Vested benefit obligation | $1,500 | $1,900 | ||
Accumulated benefit obligation | 1,900 | 2,730 | ||
Projected benefit obligation | 2,500 | 3,300 | ||
Plan assets (fair value) | 1,700 | 2,620 | ||
Settlement rate and expected rate of return | 10% | |||
Pension asset/liability | 800 | ? | ||
Service cost for the year 2017 | 400 | |||
Contributions (funding in 2017) | 700 | |||
Benefits paid in 2017 | 200 |
Related Book For
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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