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(b) Rockwell Corporation received the following information from its actuary concerning the operation of the corporation's defined benefit pension plan. January 1, 2019 $000 1500
(b) Rockwell Corporation received the following information from its actuary concerning the operation of the corporation's defined benefit pension plan. January 1, 2019 $000 1500 1900 3600 2320 Vested benefit obligation Accumulated benefit obligation Defined benefit obligation Plan assets (fair value) Discount (Interest) rate Pension asset/liability Service cost for the year 2019 Contributions (funding in 2019) Benefits paid in 2019 December 31, 2019 $000 1900 2730 4700 3500 10% ? 590 980 310 1280 Instructions i. Compute the actual return on the plan assets in 2019. (2 marks) ii. Compute the amount of the other comprehensive income (G/L) as of December 31, 2019. (Clearly show the computation for pension liability gains/losses and asset gains/losses) (Assume the January 1, 2019, balance was zero.) (6 marks) iii. Prepare a 2019 pension worksheet with supplementary schedules. (5 marks) iv. Prepare the journal entry or entries to record pension expense and the employer's contribution to the pension trustee in 2019. (4 marks) v. Indicate the amounts that would be reported on the Income Statement and the Statement of Financial Position for the year 2019
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