The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2018 ($ in
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Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2018.
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Jan. 1 $4,100 3,715 4,530 Dec. 31 $4,380 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, 2017, 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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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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