Question

Required Indicate whether each item a through o would be included in (1) a plan asset...

Required

Indicate whether each item a through o would be included in (1) a plan asset reconciliation, (2) a PBO reconciliation, and/or (3) a schedule of pension expense. An item may appear in more than one place.

The following items are related to a defined pension plan:

Items relate to 2020 unless otherwise indicated

a. December 31, 2020, projected benefit obligation balance

b. Interest cost on PBO

c. Amortization of prior service cost

d. December 31, 2020, plan asset balance

e. January 1, 2020, pension plan asset balance

f. Loss (gain) related to changes in actuarial assumptions

g. Pension benefits paid to retirees

h. January 1, 2020, projected benefit obligation balance

i. Cash funding by the employer

j. Prior service cost amendment

k. Expected return on plan assets

l. Net periodic pension expense

m. Amortization of pension gain/loss

n. Actual return on plan assets

o. Service cost

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Ans:

Items Plan asset reconciliation PBO reconciliation Schedule of pension expense
(a) December 31, 2020, projected benefit obligation balance
(b) Interest cost on PBO
(c) Amortization of prior service cost
(d) December 31, 2020, plan asset balance
(e) January 1, 2020, pension plan asset balance
(f) Loss (gain) related to changes in actuarial assumptions
(g) Pension benefits paid to retirees
(h) January 1, 2020, projected benefit obligation balance
(i) Cash funding by the employer
(j) Prior service cost amendment
(k) Expected return on plan assets
(l) Net periodic pension expense
(m) Amortization of pension gain/loss
(n) Actual return on plan assets
(o) Service Cost
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