AC 302 WEEK 5 Willy Exercise AND Problem

AC 302 WEEK 5 Willy Exercise AND Problem 
Brief Exercise 20 Question 7 
Shin Corporation had a projected benefit obligation of $3,177,400 and plan assets of $3,360,600 at January 1, 2014. Shin also had a net actuarial loss of $462,620 in accumulated OCI at January 1, 2014. The average remaining service period of Shin- employees is 7 years.



Exercise 20-12
Ferreri Company received the following selected information from its pension plan trustee concerning the operation of the company- defined benefit pension plan for the year ended December 31, 2014.


Problem 20-3
Gottschalk Company sponsors a defined benefit plan for its 100 employees. On January 1, 2014, the company- actuary provided the following information.
Accumulated other comprehensive loss (PSC)		$159,700
Pension plan assets (fair value and market-related asset value)		192,100
Accumulated benefit obligation		268,000
Projected benefit obligation		380,300

The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2014, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $57,100; the projected benefit obligation was $497,600; fair value of pension assets was $278,100; the accumulated benefit obligation amounted to $368,900. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $12,300. The company- current year- contribution to the pension plan amounted to $73,700. No benefits were paid during the year.