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Pension data for Barry Financial Services Incorporated include the following: ( $ in thousands ) Discount rate, 7 % Expected return on plan assets, 9
Pension data for Barry Financial Services Incorporated include the following:
$ in thousands
Discount rate,
Expected return on plan assets,
Actual return on plan assets,
Service cost, $
January :
Projected benefit obligation
Accumulated benefit obligation
Plan assets fair value
Prior service cost AOCI amortization, $
Net gain AOCI amortization, $
There were no changes in actuarial assumptions.
December :
Cash contributions to pension fund, December
Benefit payments to retirees, December
Required:
Determine pension expense for
Prepare the journal entries to record a pension expense, b gains and losses if anyc funding, and d retiree benefits for
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