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3. Problem 17-14 (Algo) Relationship among pension elements [LO17-3, 17-4, 17-5] The funded status of a company's defined benefit pension plan are provided below.
3. Problem 17-14 (Algo) Relationship among pension elements [LO17-3, 17-4, 17-5] The funded status of a company's defined benefit pension plan are provided below. 2021 Beginning 2021 Ending ($ in thousands) Balances Balances Projected benefit obligation look Plan assets $2,400 222 $2,601 2,701 Funded status Net asset of $100 ??? Brences Additional information: Benefits paid, $269 Actual return on plan assets, $224 Discount (interest) rate, 8% There were no changes in actuarial estimates and assumptions regarding the PBO Required: 1. Determine the beginning plan assets balance. 2. Determine service cost for 2021. 3. Determine employer contributions to the pension fund for 2021. 4. Determine the funded status at the end of 2021. (For all requirements, enter your answers in thousands (i.e. 200,000 should be entered as 200).)
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