E20-13B (Computation of Actual Return, Gains and Losses, Corridor Test, Prior Service Cost, and Pension Expense) Shiloh Acres sponsors a defined-benefit pension plan. The corporation’s actuary provides the following information about the plan. January 1,

E20-13B (Computation of Actual Return, Gains and Losses, Corridor Test, Prior Service Cost, and Pension Expense) Shiloh Acres sponsors a defined-benefit pension plan. The corporation’s actuary provides the following information about the plan.

                                                                January 1,                       December 31,

                                                                    2014                                  2014          

Vested benefit obligation                       $500                                  $610

Accumulated benefit obligation              650                                     795

Projected benefit obligation                    860                                     996

Plan assets (fair value)                            600                                     740

Settlement rate and expected rate of return                                     10%

Pension asset/liability                               260                                       ?

Accumulated OCI (PSC)                           210                                       ?

Service cost for the year 2014                                                            100

Contributions (funding in 2014)                                                           80

Benefits paid in 2014                                                                             50

The average remaining service life per employee is 10 years.

Instructions

(a) Compute the actual return on the plan assets in 2014.

(b) Compute the amount of other comprehensive income (G/L) as of December 31, 2014. (Assume the January 1, 2014, balance was zero.)

(c) Compute the amount of net gain or loss amortization for 2014 (corridor approach).

(d) Compute the amount of prior service cost