Accounting help. please no plagiarism. show your working 2 hours max

Question 2 (3 points—25 minutes)

 

The following information pertains to A&E Co.’s defined benefit pension plan for the year 2013.

Projected benefit obligation at 1/1/2013

$600,000

Fair value of pension plan assets 1/1/2013

  420,000

Unrecognized prior service costs at 1/1/2013

  240,000

Service cost

    80,000

Amortization of prior service costs

    20,000

Contributions to the plan

    40,000

Benefits paid

    15,000

Actual and expected return on plan assets

          6%

Interest/discount rate used

          6 %

a.       Show calculations to compute the pension expense for 2013.

b.       Show calculations to compute the ending balance of the projected benefit obligation at 12/31/2013.

c.        Show calculations to compute the ending balance of the plan assets at 12/31/2013.

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