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Plan assets (market-related value) $495,000 Projected benefit obligation 692,000 Pension asset/liability 197,000 Cr. Prior service cost 86,000 Net gain or loss (debit) 91,000 As a
| Plan assets (market-related value) | $495,000 | ||
| Projected benefit obligation | 692,000 | ||
| Pension asset/liability | 197,000 | Cr. | |
| Prior service cost | 86,000 | ||
| Net gain or loss (debit) | 91,000 |
As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020.
| Service cost | $98,000 | ||
| Settlement rate, 9%; expected return rate, 10% | |||
| Actual return on plan assets | 44,000 | ||
| Amortization of prior service cost | 28,000 | ||
| Contributions | 130,000 | ||
| Benefits paid retirees | 85,000 | ||
| Average remaining service life of active employees | 10 | years |
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Auditing Information Security A Complete Guide
Authors: Gerardus Blokdyk
2020 Edition
1867303531, 978-1867303534
