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Calculate the pension asset to be recorded at december

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Question - Montoya Company has available the following information about its defined benefit pension plan for the year ended December 31, 2011.

Service Cost for 2011 $ 25,000

Accumulated benefit obligation 683,000

Plan assets at fair value 630,000

Accumulated OCI(Psc) 300,000

Vested Benefit ObligATION 505,000

Market Related Asset Value 725,000

Projected benefit obligation 865,000

Accumulated OCI net gain 90,000

Interest on projected benefit obligation 64,000

a. Calculate the pension asset/liability to be recorded at December 31, 2011.

b. Calculate the 2012 amortization of the net gain. The average remaining service life of employee is 10 years.

Reference no: EM131879946

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