A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2016, the pension formula was amended, creating a prior service cost of $140,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two years.
Required:
Fill in the missing amounts.?

Respuesta :

Answer:

Hello your question lacks the required spreadsheet  attached below is a  spreadsheet and the completely filled spreadsheet

Explanation:

Amortization = 140,000 / 20 = 7000

average service life = 20

The missing amounts are

service cost = $104

gain on PBO = $28

prior service cost = $0

expected return on plant assets = $ 46.40

loss on assets = $16

cash funding = $88

retirees benefits = $50

prior service cost = $14

interest cost = $42

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