pensions

Question 1

recognition of psc

amortization

Answer 1

psc-oci 100
pension lia 100

pension expense 10
psc-oci (100/10) 10

Question 2

pension gains and losses

amortization

Answer 2

pension gain/loss-oci 1000
pension lia 1000

pension expense 100
psc-oci 100

Question 3

record pension expense

Answer 3

pension expense

pension lia

Question 4

record funding contribution

Answer 4

pension lia

cash

Question 5

plan assets include

Answer 5

The ending plan asset balance equals: contributions made by the sponsoring firm to date + investment return to date (interest, dividends, stock appreciation, recognized gains and losses) - benefits paid to date.

Question 6

bpo includes

Answer 6

service cost
interest cost
(benefits paid)