City of Frisco has a defined benefit pension plan. As of January 1, 2015, the following balances were computed for its pension plan

Deferred pension gain $420,000

Fair value of Plan Assets 3,300,000

Market-related value of the pension fund (5 year weighted average)(Note A) 2,850,000

Projected benefit obligation 3,900,000

Accumulated benefit obligation $3,500,000

It was anticipated City of Frisco’s pension plan would earn 12% of the market related value of the pension fund (5 year weighted average) during the calendar year 2015. The actual return during the calendar year totaled $315,000. City of Frisco has elected to amortize the deferred pension gains and losses over 10 years.

Note A – this is the amount to calculate expected return

Requirements:

1. Compute the amount of amortization of deferred pension gain or loss for the calendar year 2015.

2. The computed pension expense is $534,000 however it has not taken into account including any amortization of prior service cost, any deferred gains and losses and any other important data. Compute the accurate pension expense for calendar year 2015.

3. Compute the amount of deferred gain or loss for the calendar year 2015.

4. Determine the amount of deferred pension gain or loss that City of Frisco will carry forward to calendar year 2015.