Question

The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2018:

Projected benefit obligation $5,800 $6,080
Accumulated benefit obligation 3,800 4,120
Plan assets (fair value) 7,080 7,525
Interest (discount) rate, 8%
Expected return on plan assets, 10%
Prior service cost−AOCI (from Dec. 31, 2017, amendment) 1,010
Net loss−AOCI 728
Average remaining service life: 10 years
Gain due to changes in actuarial assumptions 72
Contributions to pension fund (end of year) 510
Pension benefits paid (end of year) 465

Required:
Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2018.

Answer 1

Please see attached.

Step-by-step explanation:

Prepare a pension spreadsheet that shows the relationship among the various pension balances, show the changes in those balances , and compute pension expense for 2018

Please see detailed solution to the above question.