the funded status of its pension plan with the amounts recognized in the balance she 604581
According to SFAS 158 and SFAS 132(R), a company with a defined benefit pension plan must disclose in the notes to its financial statements all of the following except
- The funded status of its pension plan with the amounts recognized in the balance sheet showing separately the assets, current liabilities, and noncurrent liabilities recognized.
- Rates for assumed discount rate, rate of compensation increase, and expected long-term rate of return on plan assets.
- A reconciliation of the accrued or prepaid pension cost reported in its balance sheet with the pension expense reported in its income statement.
- The recognized amount of the net periodic benefit cost with the components shown separately.
The following information pertains to Foster Co.’s defined benefit postretirement plan for the year 2006.
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|
Service cost |
$120,000 |
|
Benefit payment |
55,000 |
|
Interest on the accumulated postretirement benefit obligation |
20,000 |
|
Unrecognized transition obligation (to be amortized over twenty years) |
200,000 |
Foster Co.’s 2006 net periodic postretirement benefit cost was
- $205,000
- $150,000
- $ 95,000
- $285,000