1. At the end of the current year, Kennedy Co. has a defined benefit obligation of £335,000 and pension plan assets with a fair value of £245,000. The amount of the vested benefits for the plan is £225,000. Kennedy has unrecognized past service costs of £24,000 and an unrecognized actuarial gain of £8,300. What account and amount(s) related to its pension plan will be reported on the company's statement of financial position?
A. pension liability and £74,300
B. pension liability and £90,000
C. pension asset and £233,300
D. pension asset and £110,000
2. Brompton Ltd. is evaluating amendments to its pensions plans. Plan 1 covers its salaried employees and Plan 2 provides benefits to its hourly workers. On January 1, 2012, Brompton will grant employees in Plan 2 additional pension benefits of €318,000 based on their past service. Employees in this plan have an average period to vesting of 6 years. Plan 1 will be amended to reduce benefits by €160,000 (in exchange, employees will receive increased contributions to the company's defined contribution plan). Employees in this plan have an average period to vesting of 5 years. What is the total unrecognized past service cost amortization for 2012?
A. €43,455
B. €85,000
C. €36,933
D. €21,000