Given the Following Information, Compute December 31, 2012 Projected Benefit

question 35

Essay

Given the following information, compute December 31, 2012 projected benefit obligation (PBO) and fair market value (FMV) of plan assets for Eagan Company.
$\begin{array}{|l|l|}\hline \text { Prior service cost ganted in a } 2012 \text { plan amencment } & \$ 115,000 \\\hline \text { Interest on PBO } & 73,000 \\\hline \text { Actual return on plan assets } & 101,000 \\\hline \text { Service cost } & 84,000 \\\hline \text { Contribution sent to plan trustee } & 62,000 \\\hline \text { Benefit payments to retirees } & 24,000 \\\hline \text { Liability loss(gain) } & (37,000 \\\hline \text { FMV of plan assets, January 1, 2012 } & 735,000 \\\hline \text { PBO, Jamury 1, 2012 } & 814,000 \\\hline &\end{array}$ What amount of asset or liability will be reported on the balance sheet at December 31, 2012?

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