Floki Company has a defined benefit pension plan with Last Warwick Trust Company. On December
Plan Assets were $ while the Plan Benefit Obligation was $
During Last Warwick paid benefits to retirees of $ In addition, expected earnings were $
while actual earnings were $ The service cost for the year was $ and interest cost or settlement
was $ Floki constributed $ during the year to the pension fund.
There were no amortizations of prior service cost nor other comprehensive income gains or losses.
There were no amendments to the plan.
Prepare a schedule to determine the beginning balance of the Pension AssetLiability at January
Use a pension worksheet to help you. State if the beginning balance is an asset or a liability.
