Question: To convert actual to expected return on plan assets, what's the Worksheet adjustment needed in calculating 2019 Pension Expense for Fox Co. based on the
To convertactual to expected returnon plan assets, what's the Worksheetadjustmentneeded in calculating 2019 Pension Expense for Fox Co. based on the following info?
Pension data for the 2019 calendar year:Service cost$ 70,000Actual return on plan assets9%Benefits to retirees60,000Expected return on plan assets7%Cash contributions50,000Settlement rate6%
Fox's Beginning 2019 Info (December 31, 2018 balances):Plan Assets$ 700,000Projected Benefit Obligation (PBO)850,000Accumulated net other comprehensive loss (average service life is 10 years)175,000Prior Service Cost (PSC-Fox uses years of service amortization method)300,000(This PSC is attributable to 80 employees who are expected to retire as follows:10 retire in 2 years, 15 in 3 years, 20 in 4 years, and 35 in 5 years)
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