tlement rate and expected rate of return cual return on plan assets nual funding (contributions) nefits paid or service cost (plan amended, 1/1/25) mortization of prior service cost ange in actuarial assumptions establishes December 31, 2026, projected benefit obligation of: 10% 10% 14,100 17,900 21,730 23,800 16,000 39,600 48,400 10% 16,200 157,600 55,200 21,300 42,400 518,500
tlement rate and expected rate of return cual return on plan assets nual funding (contributions) nefits paid or service cost (plan amended, 1/1/25) mortization of prior service cost ange in actuarial assumptions establishes December 31, 2026, projected benefit obligation of: 10% 10% 14,100 17,900 21,730 23,800 16,000 39,600 48,400 10% 16,200 157,600 55,200 21,300 42,400 518,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4E
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Transcribed Image Text:Sunland Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2024, with the following beginning
balances: plan assets $197,500; projected benefit obligation $248,000. Other data relating to 3 years' operation of the plan are as
follows.
Annual service cost
Settlement rate and expected rate of return
Actual return on plan assets
Annual funding (contributions)
Benefits paid
Prior service cost (plan amended, 1/1/25)
Amortization of prior service cost
Change in actuarial assumptions establishes
a December 31, 2026, projected benefit obligation of:
2024
$16,000
10%
17,900
16,000
14,100
2025
$19,400 $25,800
10%
21,730
39,600
16,200
2026
157,600
55,200
10%
23,800
48,400
21,300
42,400
518,500
Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.)
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