Current service cost

Contribution to the plan

Past service cost
Actual and expected return on plan assets
Benefits paid
Net defined benefit liability at Jan. 1, 2014
Plan assets at Jan. 1, 2014
Defined benefit obligation at Jan. 1, 2014
Interest or discount rate on the DBO/plan assets
a)
Defined benefit obligation
Interest cost
Current service cost
Past service cost
Benefits paid out
DBO

$226,600
264,100
26,600
160,000
116,000
401,600
1,600,000
2,001,600
10%

2,001,600
200160.00
$226,600
26,600
-116,000
2,338,960

b)
Plan assets
Actual return on plan assets
Contributions
Benefits paid out
Plan assets

1,600,000
160,000
264,100
-116,000
1,908,100

c)
Pension expense 2014
Current service cost
Interest cost on DBO
Actual return on plan assets
Past service cost
Pension Expense

$226,600
200160.00
-160,000
26,600
$293,360

d)
Pension Expense
Net Defined Benefit Liability/Asset
Net Defined Benefit Liability/Asset
Cash
e)
Net defined benefit liability
Contributions
Pension expense
Net defined benefit liability

$293,360
$293,360
264,100
264,100

401,600
-264,100
$293,360
430,860

Current service cost

Contribution to the plan
Past service cost
Actual and expected return on plan assets
Benefits paid
Net defined benefit liability at Jan. 1, 2014
Plan assets at Jan. 1, 2014
Defined benefit obligation at Jan. 1, 2014
Interest or discount rate on the DBO/plan assets

$226,000
261,600
25,900
159,500
96,000
407,000
1,595,000
2,002,000
10%

Annual Pension Expense

Balance
Service cost
Interest cost
Actual return
Past service cost
Contributions
Benefits paid
Journal entry
Balance

$226,000
200200
159,500
25,900

$292,600

$2,358,100
1,920,100
$438,000

General Journal Entries

Memo Record
Cash
Net Def. Benefit Liab/Asset
Defined Benefit Obligation
407,000
2,002,000
$226,000
200200
25,900
261,600
96,000
261,600

$31,000
$438,000

$2,358,100

Plan Assets
1,595,000

159,500
261,600
96,000
1,920,100

Defined postretirement benefit obligation at Jan. 1, 2014

Plan assets, Jan. 1, 2014
Actual return on plan assets, 2014
Discount rate and expected return on fund assets
Service cost, 2014
Plan funding during 2014
Payments from plan to retirees
Actuarial loss on defined post-retirement benefit obligation, 2014 (end of year)
a)
Service cost
Interest on defined
Expected return on plan assets
Post retirement benefit expense
b)
Actuarial loss on assets
Actuarial loss on obligation
Post retirment benefit remeasurement loss - OCI
c)
Plan assets opening
Actual return on plan assets
Contributions
Beneftis paid out
Plan assets ending
Defined post retirement benefit obligation opening
Interest cost
Service cost
Actuarial loss
Benefits paid out
Defined post retirement benefit obligation closing
Defined post retiremnt benefit obligation ending
Plan assets as FV
Defined ending
d)
Net post-retirement benefit liability opening
Post retirement benefit expense
Remeasurement loss - OCI
Contributions (funding) during 2014

Net post-retirement benefit liability closing

$122,000
42,600
4,100
11%
56,000
22,400
6,400
28,500

56,000
$13,420
-4686
64,734

586
28,500
29,086

42,600
4,100
22,400
-6,400
62,700
$122,000
$13,420
56,000
28,500
-6,400
$213,520
($213,520)
62,700
($150,820)

$79,400
64,734
29,086
-22,400

$150,820

Current service cost

Contribution to the plan
Actual return on plan assets
Benefits paid
Plan assets at Jan. 1, 2013
Defined postretirement benefit obligation at Jan. 1, 2013
Discount rate and expected rate of return on plan assets
a)
Opening balance
Service cost
Interest cost
Expected return
Remsmt. Loss
Contributions
Benefit paid
Expense entry
Funding entry
Total
Retirement Benefit Expense
Net retirement benefit liab/asset
Remeasurement loss (OCI)
Net retirement Benefit liab/asset
Net retirement benefit liab/asset
cash

$203,400
47,300
142,300
81,000
1,597,600
1,823,500
9%

Remeas. (Gain)/Loss OCI

143784
142,300
1,484

Benefit Expense

Cash

$203,400
164115
143784
1,484
47,300
1,484

$223,731
47,300

225215
225215
1,484
1,484
47,300
47,300
dr
dr

dr
dr
cr
dr

cr
cr

164115
$223,731
225,900
246231

Defined Benefit Liab/Asset DBO

225,900

Plan Assets
1,823,500
1,597,600
$203,400
164115
143784
1,484
47,300
81,000
81,000

$225,215
47,300
403,815

cr
cr
dr
cr

$2,110,015

cr
cr
cr
dr
cr

1,706,200

dr
dr
cr
dr
cr
dr