Pensions:
Consider the following information as of the beginning of 2012. The projected benefit obligation or PBO was $135,000, the accumulated gain (loss) in order comprehensive income (OCI) was $20,000 and the average remaining service period of active employees 20 years.
Additional information:
Expected return on plan assets is $15%
The FMV of plan assets, on Jan. 1, 2012 is $100,000
The FMV on Dec. 31, 2012 is $130,000
Contribution to pension plan was $14,000
Benefits paid to employees was $8,000
Questions:
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Determine the difference between the actual and expected return on plan assets for 2012.
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Determine the amortization of the net gain or loss accumulated in OCI.
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Determine the gain or loss recognized as a component of pension cost in 2012.
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Determine the accumulated gain or loss that would be carried forward in OCI 2013.
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