P20-8 - 2008 Projected benefit obligation, January 1 Plan...

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2008 2009 Projected benefit obligation, January 1 $650,000 Plan assets (fair value and market related value), January 1 410,000 Prepaid/accrued pension cost (credit), January 1 80,000 Additional pension liability, January 1 12,300 Intangible asset-deferred pension cost, January 1 12,300 Unrecognized prior service cost, January 1 160,000 Service cost 40,000 $59,000 Settlement rate 10% 10% Expected rate of return 10% 10% Actual return on plan assets 36,000 61,000 Amortization of prior service cost 70,000 55,000 Annual contributions 72,000 81,000 Benefits paid retirees 31,500 54,000 Increase in projected benefit obligation due to changes in actuarial assumptions 87,000 - Accumulated benefit obligation at December 31 721,800 789,000 Average service life of all employees 20 years Vested benefit obligation at December 31 464,000
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a) Ge Annual Pension Items Expense Cash Balance, January 1, 2008 Service cost 40,000 Interest cost 65,000 Actual return 36,000 Unexpected loss 5,000 Amortization of PSC
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This note was uploaded on 03/20/2010 for the course ACC 423 taught by Professor Trinahall during the Winter '08 term at University of Phoenix.

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P20-8 - 2008 Projected benefit obligation, January 1 Plan...

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