Question - Prepare a 2010 pension worksheet with supplementary schedules of computations. Prepare the journal entries at December 31 2010 to record pension expense and related pension transactions; also indicate the pension amounts reported in the balance sheet.
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Jan-10
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Dec-10
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Vested benefit obligation
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1500
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1900
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Accumulated benefit obligation
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1900
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2730
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Projected benefit obligation
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2500
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3300
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plan assets (fair Value)
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1700
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2620
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pension / asset liability
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800
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?
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settlemnt rate and ezxdpected rate of return
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10%
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service cost for the year 2010
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400
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contributions (funding in 2010
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700
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benefits paid in 2010
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200
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