Prepare a pension worksheet for the pension plan

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Reference no: EM131146947

On January 1, 2014, Harrington Company has the following defined benefit pension plan balances. Projected benefit obligation $4,500,000 Fair value of plan assets 4,200,000. The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends its pension agreement so that prior service costs of $500,000 are created.

Other data related to the pension plan are as follows.




Service cost



Prior service cost amortization



Contributions (funding) to the plan



Benefits paid



Actual return on plan assets



Expected rate of return on assets



(a) Prepare a pension worksheet for the pension plan for 2014 and 2015



Reference no: EM131146947

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