Answer Happy

A corporation provides a defined
benefit pension plan to its employees; the settlement rate is 8%
the expected return on plan assets is 8%, during the year, the
service cost was sh. 50,000; during year 2 service cost was sh.60,
000 contributions to the pension trust were sh. 70,000, the actual
return on plan assets was sh.4, 000 and benefits of shs. 3,000 were
paid to retirees; during year 3 service cost was sh.75, 000
contributions to the pension trust were sh. 55,000, the actual
return on plan assets was sh. 9,680 and benefits of sh. 5, 80 were
paid to retirees; during year 4 service cost was sh. 80,000
contributions to the pension trust were sh. 65,000, the actual
return on plan assets was sh.14, 400 and benefits of sh. 9,400 were
paid to retirees.
Required: