1. Bidell Builders reported $500 of pension cost for the current year. In making this computation, Bidell informs you that the change in cumulative unamortized actual returns on plan asset in excess of expected returns is a $231 net gain. In addition, the change in the unamortized prior service cost at the end of the year is $79. Bidell contributed $100 into the plan during the current year. Prepare the journal entry to record the pension cost for the current year.

2. Armando Hernandez Fashions, Inc, sponsors a defined benefit pension plan for its employees. The companys pension trust provides you with the following information: Fair value of beginning plan assets, $569,000; Projected benefit obligation at the beginning of the year, $678,000; Service cost, $54,000; Interest on beginning PBO, $56,900; Actual loss on plan assets; $35,800; Actuarial gain, $98,543; Benefit payments made to retirees, $29,780 and contributions made by the sponsor corporation, $86,500. Compute the ending balance of the projected benefit obligation.

Using the data provided in question 2, determine the ending balance of the plan assets and indicate the funded status of the plan at the end of the year.