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E19-13 Opsco Corp.: To Net Income (Service Costs & Interest Costs)
E19-13 Opsco Corp.: To Net Income (Service Costs & Interest Costs)
E19-13 Opsco Corp.: To Net Income (Service Costs & Interest Costs)
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
1,597,500 9% -
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