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Kingbird Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,400 2,080 2,420 1,610
Kingbird Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2017 $1,400 2,080 2,420 1,610 December 31, 2017 $2,080 2,970 3,550 2,520 Vested benefit obligation Accumulated benefit obligation Projected benefit obligation Plan assets (fair value) Settlement rate and expected rate of return Pension asset/liability Service cost for Contributions (funding in 2017) Benefits paid in 2017 10% 810 the year 2017 410 650 190 (a) Compute the actual return on the plan assets in 2017 Actual return on the plan assets (b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2017. (Assume the January 1, 2017, balance was zero.) (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45). Net pension liability gains and losses (e) Compute the amount of net gain or loss amortization for 2017 (corridor approach). Net gain or loss amortization (d) Compute pension expense for 2017 Pension expense
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