I don't get it
Jerry Corp., a company whose stock is publicly traded, provides a noncontributory defined benefit pension plan for its employees. The company’s actuary has provided the following information for the year ended December 31, year 5:
Projected benefit obligation $400,000
Accumulated benefit obligation 350,000
Plan assets (fair value) 410,000
Service cost 120,000
Interest on projected benefit obligation 12,000
Amortization of unrecognized prior service cost 30,000
Expected and actual return on plan assets 41,000
The market-related asset value equals the fair value of plan assets. Prior contributions to the defined benefit pension plan equaled the amount of net periodic pension cost accrued for the previous year-end. No contributions have been made for year 5 pension cost. In its December 31, year 5 balance sheet, Jerry should report a pension asset of
$203,000
$121,000
$ 10,000
$0
.