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3 . ABC Co . sponsors a defined benefit pension plan for its employees. On January 1 , 2 0 2 0 , the following
ABC Co sponsors a defined benefit pension plan for its employees. On January the following balances related to this plan.
Plan assets marketrelated value $
Projected benefit obligation
Pension assetliability Cr
Prior service cost
OCI Loss
As a result of the operation of the plan during the actuary provided the following additional data for
Service cost $
Actual return on plan assets
Amortization of prior service cost
Contributions
Benefits paid to retirees
Average remaining service life of active employees years
Settlement rate
Expected rate of return
a Compute the annual pension expense for pts
b Compute the projected benefit obligation at December pts
c Compute the fair value of plan assets at December pts
d Prepare the journal entry for the pension expenses in pts
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