Question
can I get help with this? 1.Rollo Company maintains a defined benefit pension with First Hartford Trust.Below are the balances reported by First Hartford on
can I get help with this?
1.Rollo Company maintains a defined benefit pension with First Hartford Trust.Below are the balances reported by First Hartford on January 1, 2019:
Plan Benefit Obligation$520,000
Plan Assets$650,000
At the beginning of 2019, First Hartford informed Rollo that due to amending the program for prior service for new employees, they need to deposit an additional $180,000.Other matters for 2019 are:
The settlement rate is 10%.
The current service cost is $40,000.
Expected earnings are 10% on beginning plan assets.
Actual earnings are $62,000.There is an expected loss.
Prior service cost amortization is $25,000.
First Hartford Trust paid retirement benefits of $35,000.
Rollo funded the plan $120,000.
pension workshee
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