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ABC Inc, sponsor a defined- benefit pension plan. The following data relates to the operation of the plan for year 2013 Service cost $ 250,000 Contribution to the plan 220,000 Actual return on plan asset 182,000 benefit obligation (beginning balance) 2,600,000 value of plan asset (beginning balance) 1,800,000 The interest rate of this plan is 10%, the amount of pension expense

ABC Inc, sponsor a defined- benefit pension plan. The following data relates to the operation of the plan for year 2013 Service cost $ 250,000 Contribution to the plan 220,000 Actual return on plan asset 182,000 benefit obligation (beginning balance) 2,600,000 value of plan asset (beginning balance) 1,800,000 The interest rate of this plan is 10%, the amount of pension expense

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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19- ABC Inc, sponsor a defined- benefit pension plan. The following data relates to the operation of the plan for year 2013 Service cost a) b) d) e) $ 250,000 Contribution to the plan 220,000 Actual return on plan asset 182,000 benefit obligation (beginning balance) 2,600,000 value of plan asset (beginning balance) 1,800,000 The interest rate of this plan is 10%, the amount of pension expense $ 250,000 $ 490,500 $ 330,000 $ 310,500 the amount of pension expense cannot be determined
Transcribed Image Text:19- ABC Inc, sponsor a defined- benefit pension plan. The following data relates to the operation of the plan for year 2013 Service cost a) b) d) e) $ 250,000 Contribution to the plan 220,000 Actual return on plan asset 182,000 benefit obligation (beginning balance) 2,600,000 value of plan asset (beginning balance) 1,800,000 The interest rate of this plan is 10%, the amount of pension expense $ 250,000 $ 490,500 $ 330,000 $ 310,500 the amount of pension expense cannot be determined
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