Problem - Brunson Corporation pension plan Information for current fiscal year
Beginning balance of plan assests at market value $1,560,000
actual return on plan assets $ 210,000
employer's contribution $ 150,000
distribution to beneficiaries $ 75,000
service cost $ 125,000
interest cost $ 156,000
changes in benefits and assumptions $ 35,000
beginning balance of the PBO $1,580,000
Required -
What is the ending balance of plan assets?
What is the ending balance of the PBO?
Is the pension plan overfunded or underfunded and buy how much?
Where will this overfunding or underfunding of the plan be disclosed?