Disclosure of Pension Plan Information
The following information relates to the pension plan of Circle Manufacturing Company at December 31, 2008:
|
|
(in thousands) |
|
Balances at December 31, 2008: |
|
|
PBO |
$12,950 |
|
Fair value of the pension fund |
11,600 |
|
ABO |
11,800 |
|
Unrecognized prior service cost |
0 |
|
Unrecognized net pension loss (arose in 2008) |
220 |
|
Accrued pension cost |
1,130 |
|
2008 activity: |
|
|
Service cost |
$ 950 |
|
Interest cost |
1,300 |
|
Actual return on the pension fund |
1,020 |
|
Expected return on the pension fund |
1,110 |
|
Amortization of prior service cost |
80 |
Instructions: Prepare the pension note at December 31, 2008, that discloses the component parts of pension expense as well as the items that combine to yield the net amount reported in the balance sheet.