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Question
Krabby, Inc. had the following reconciliation at December 31, 2011:
The following assumptions are being used for the pension plan in 2012:
You have the following additional information for 2012:
Required:
1. Compute pension expense for 2012.
2. Compute plan assets at December 31, 2012.
3. Compute the projected benefit obligation at December 31, 2012.
4. Compute the Unrecognized Actuarial (Gain) Loss that will appear in Krabby's reconciliation of funded status to prepaid (accrued) pension cost at December 31, 2012.
5. Compute the amount of the prepaid (accrued) pension cost that will appear on Krabby's December 31, 2012 balance sheet.
Answer
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