Question
on January 1 2011, Newlin co has the following balances Pbo 1,800,000 credit pension is 300,000 underfunded at jan 1 20111 oci-gl has a credit
on January 1 2011, Newlin co has the following balances
Pbo 1,800,000 credit pension is 300,000 underfunded at jan 1 20111 oci-gl has a credit balance of $250, 000 Jan 1 2011
additional info service life of employees is 100 years
settlement rate is 8%other data relate to the pension plan for 2011 are:
Service cost 280,000
amoritization of prior service costs due to increase in benefits 75,000
contributions 105,000
benefits paid 300,000
expected return on plan assets 237,000
actual return on plan assets 245,000
(A) find pbo balance at dec 31. 2013 :
I have 1,924,000 for the balance please tell me if i am correct
(B) Find fair value of plan assets at dec 31 2013:
I have 2,150,000 am I correct?
(C) calucalate pension expense for 2013 w corridor
please help show every step this part i am wrecking my brain with how to account for the corridor portion and formulate the problem
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