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

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The following pension-related data pertain to Metro Recreations noncontributory, defined benefit pension plan for 2018: ($ i Required: Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in

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Answer 1

Answer #1

	PBO	Plan Assets	Prior Services Cost-AOCI	Net Loss-AOCI	Pension Expense	Cash	Net Pension (Liability) / Asset
Balance, Jan. 1, 2016	-4,900	5730	920	593			830
Service Cost	-317				317		-317
Interest Cost	-392				392		-392
Expected return on assets		573			-573		573
Adjust for:					0
Loss on Assets		-173		173	0		-173
Amortization of:					0		0
Prior service cost			-92		0		0
Net loss				-2	2		0
Gain on PBO	54			-54			54
Cash funding		420				-420	420
Retiree Benefits	375	-375					0
Bal., Dec. 31, 2016	-5,180	6,175	828	710	138	-420	995

Service Cost	(5180-4900-392+54+375)	317
Interest Cost	4900*8%	392
Expected return on assets	5730*10%	573
Loss on Assets	(573-400)	173
Prior service cost	920/10	92
Net loss	(593-573)/10	2

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