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Need help please on this pension assignment At January 1, 2019, the account balances (for both General Ledger and Memo Record accounts) related to the
Need help please on this pension assignment
At January 1, 2019, the account balances (for both General Ledger and Memo Record accounts) related to the company's pension plan are as follows: 1,200,000 820,000 (380,000) 2019 2020 Projected Benefit Obligation, 1/1 Plan Assets(Mkt Related Value), 1/1 Pension asset/liability, 1/1 Additional Information: On 1/1/19, through plan amendments grants prior service benefits having present value of Service cost Settlement rate Expected rate of return Actual rate of return Amortization of prior service cost Annual contributions Benefits paid retirees Increases in PBO due to changes in actuarial assumptions 320,000 80,000 10% 10% 82,000 140,000 194,000 63,000 118,000 10% 10% 122,000 100,000 162,000 108,000 152,000 At January 1, 2019, the account balances (for both General Ledger and Memo Record accounts) related to the company's pension plan are as follows: 1,200,000 820,000 (380,000) 2019 2020 Projected Benefit Obligation, 1/1 Plan Assets(Mkt Related Value), 1/1 Pension asset/liability, 1/1 Additional Information: On 1/1/19, through plan amendments grants prior service benefits having present value of Service cost Settlement rate Expected rate of return Actual rate of return Amortization of prior service cost Annual contributions Benefits paid retirees Increases in PBO due to changes in actuarial assumptions 320,000 80,000 10% 10% 82,000 140,000 194,000 63,000 118,000 10% 10% 122,000 100,000 162,000 108,000 152,000Step by Step Solution
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