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  • E19-13 Opsco Corp.: To Net Income (Service Costs & Interest Costs)

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    Jedd Gardner
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    Opsco Corp. Pension expense: to net income (service costs and interest costs): Current service costs Past service costs interest on net ABO: ABO, Jan 1 / 11 Less: Plan assets, Jan 1/ 11 Net ABO Interest To OCI (remeasurement gains / losses) Actual return on plan assets Less: expected return plan assets expected return rate remeasurement loss (plan assets) Total remeasurment loss DR CR CR DR CR pension expense: OCI

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    Opsco Corp. Pension expense: to net income (service costs and interest costs): Current service costs Past service costs interest on net ABO: ABO, Jan 1 / 11 Less: Plan assets, Jan 1/ 11 Net ABO Interest To OCI (remeasurement gains / losses) Actual return on plan assets Less: expected return plan assets expected return rate remeasurement loss (plan assets) Total remeasurment loss DR CR CR DR CR pension expense: OCI

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    9 views1 page

    E19-13 Opsco Corp.: To Net Income (Service Costs & Interest Costs)

    Uploaded by

    Jedd Gardner
    Opsco Corp. Pension expense: to net income (service costs and interest costs): Current service costs Past service costs interest on net ABO: ABO, Jan 1 / 11 Less: Plan assets, Jan 1/ 11 Net ABO Interest To OCI (remeasurement gains / losses) Actual return on plan assets Less: expected return plan assets expected return rate remeasurement loss (plan assets) Total remeasurment loss DR CR CR DR CR pension expense: OCI

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    E19-13

    Opsco Corp.
    Pension expense: To net income (service costs & interest costs): Current service costs Past service costs Interest on net ABO: ABO, Jan 1/11 Less: Plan assets, Jan 1/11 Net ABO Interest To OCI (remeasurement gains/losses) Actual return on plan assets Less: expected return Plan assets Expected return rate Remeasurement loss (Plan assets) Remeasurement loss (ABO) Total remeasurment loss DR CR CR DR CR

    202,500 27,000 1,822,500 1,597,500 225,000 9%

    20,250 249,750 141,750

    1,597,500 9% -

    143,775 2,025 31,300 ie actuarial revaluation 33,325 249,750 33,325 283,075

    Pension expense OCI - pension remeasurment losses Net DB obligation ("Pension Liability")

    Net DB obligation ("Pension Liability") 47,250 Cash 47,250 - to record the 2011 pension plan contribution by the employer

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