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Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2020 December 31, 2020 Vested
Oriole Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1, 2020 December 31, 2020 Vested benefit obligation $1,650 $1,750 Accumulated benefit obligation 1,750 2,560 Projected benefit obligation 2,460 3,300 Plan assets (fair value) 1,830 2.620 Settlement rate and expected rate of return 10 % Pension asset/liability 630 ? Service cost for the year 2020 440 Contributions (funding in 2020) 750 Benefits paid in 202- 190 (a) Compute the actual return on the plan assets in 2020. Actual return on the plan assets $ (b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020. (Assume the January 1, 2020, balance was zero.) (Enter loss using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) Net pension liability gains and losses $ (c) Compute the amount of net gain or loss amortization for 2020 (corridor approach). Net gain or loss amortization $ (d) Compute pension expense for 2020. Pension expense $
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