(Pension Expense, Journal Entries, Amortization of Loss) Paul Dobson Company sponsors a defined benefit plan for 100 employees. On January 1, 2010 the company actuary provided the following information. Accumulated other comprehensive loss (PSC)- $150,000 Pension plan assets (fair value and market related asset value) $200,000 Accumulated benefit obligation $260,000 Projected benefit obligation $ 350,000 The average remaining service period for participating employees is 10.5 years. All employees are expected to receive benefits under the plan. On December 31, 2010 the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $52,000; the projected benefit obligation was $452,000; fair value of pension assets was $276,000; the accumulated benefit obligation amounted to $365,000. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $11,000. The company's current year's contribution to the pension amounted to $65,000. No benefits were paid during the year. (Pension Expense, Journal Entries, Amortization of Loss) Paul Dobson Company sponsors a defined benefit plan for 100 employees. On January 1, 2010 the company actuary provided the following information Accumulated other comprehensive loss(PSC)-$150,000 Pension plan assets (fair value and market related asset value)-200,000 Accumulated benefit obligation 260,000 Projected benefit obligation 350,000 The average remaining service period for participating employees is 10.5 years. All employees are expected to receive benefits under the plan. On December 31,2010 the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $52000; the projected benefit obligation was $452,000; fair value of pension assets was $276,000; the accumulated benefit obligation amounted to $365,000. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $11,000. The company's current year's contribution to the pension amounted to $65,000. No benefits were paid during the year. a. Determine the components of pension expense that the company would recognize in 2010. With one year only, do not prepare the worksheet. b. Prepare the journal entry to record the pension expense and company's funding on the pension plan in 2010. Compute the amount of the 2010 increase/decrease in gains or losses and the amount to be amortized in 2010 and 2011. d. Indicate the pension amounts reported in the financial statement as of December 31,2010. C