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(Computation of Actual Return Gains and Losses Corridor Test and Pension Expense

(Computation of Actual Return Gains and Losses Corridor Test and Pension Expense

(Computation of Actual Return Gains and Losses Corridor Test and Pension Expense)Erikson Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the plan.January 1 December 312010 2010Vested benefit obligation $1905 $2413 Accumulated benefit obligation 2413 3467 Projected benefit obligation 3175 4191 Plan assets (fair value) 2159 3327 Settlement rate and expected rate of return 10% Pension asset/liability 1016 ?Service cost for the year 2010 508 Contributions (funding in 2010) 889 Benefits paid in 2010 254 (If answer is zero please enter a 0 do not leave any fields blank)(a) Compute the actual return on the plan assets in 2010.$(b) Compute the amount of the other comprehensive income (G/L) as of December 31 2010. (Assume the January 1 2010 balance was zero.)$(c) Compute the amount of net gain or loss amortization for 2010 (corridor approach).$(d) Compute pension expense for 2010.$

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