Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about t January 1, 2025 December 31, 2025 Vested benefit obligation $1,560 $2,010 Accumulated benefit obligation 2,010 2,820 Projected benefit obligation 2,260 3,630 Plan assets (fair value) 1,540 2,560 Settlement rate and expect rate of return 10% Pension asset/liability 720 ? Service cost for the year 2025 $400 Contributions (funding in 2025) 730 Benefits paid in 2025 200 (a)Compute the actual return on the plan assets in 2025. (b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020: Net Pension liability gains and losses:(c) Compute the amount of net gain or loss amortization for 2020:Net gain or loss amortization:(d) Compute pension expense for 2020:
Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about t
January 1, 2025 December 31, 2025
Vested benefit obligation $1,560 $2,010
Accumulated benefit obligation 2,010 2,820
Projected benefit obligation 2,260 3,630
Plan assets (fair value) 1,540 2,560
Settlement rate and expect rate of return 10%
Pension asset/liability 720 ?
Service cost for the year 2025 $400
Contributions (funding in 2025) 730
Benefits paid in 2025 200
(a)Compute the actual return on the plan assets in 2025.
(b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020:
Net Pension liability gains and losses:
(c) Compute the amount of net gain or loss amortization for 2020:
Net gain or loss amortization:
(d) Compute pension expense for 2020:
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