Natural Products, Inc., has a noncontributory, defined-benefit pension plan. At December 31, 2011, the end of the company's accounting period, the following pension-related data were available (000s):

Required:
1. Compute the 2011 net periodic pension expense.
2. Compute the 2011 funded status of the PBO.
3. Prepare the 2011 entry to record pension expense and funding.

Question

Natural Products, Inc., has a noncontributory, defined-benefit pension plan. At December 31, 2011, the end of the company's accounting period, the following pension-related data were available (000s):
  
Required:
1. Compute the 2011 net periodic pension expense.
2. Compute the 2011 funded status of the PBO.
3. Prepare the 2011 entry to record pension expense and funding.

Quizplus · Accepted Answer

The Answer of Natural Products, Inc., has a noncontributory, defined-benefit pension plan. At December 31, 2011, the end of the company's accounting period, the following pension-related data were available (000s):
  
Required:
1. Compute the 2011 net periodic pension expense.
2. Compute the 2011 funded status of the PBO.
3. Prepare the 2011 entry to record pension expense and funding.