Pension data for Sterling Properties include the following ($ in 000s): Service cost, 2011 $112 Projected benefit obligation, January 1, 2011 850 Plan assets (fair value), January 1, 2011 900 Prior service cost AOCI (2011 amortization, $8) 80 Net loss AOCI (2011 amortization, $1) 101 Discount rate, 6% Expected return on plan assets, 10% Actual return on plan assets, 11% Required: Determine pension expense for 2011.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Pension data for Sterling Properties include the
following ($ in 000s):
Service cost, 2011 $112
Projected benefit obligation, January 1, 2011 850
Plan assets (fair value), January 1, 2011 900
Prior service cost AOCI (2011 amortization, $8) 80
Net loss AOCI (2011 amortization, $1) 101
Discount rate, 6%
Expected return on plan assets, 10%
Actual return on plan assets, 11%
Required:
Determine pension expense for 2011.
Transcribed Image Text:Pension data for Sterling Properties include the following ($ in 000s): Service cost, 2011 $112 Projected benefit obligation, January 1, 2011 850 Plan assets (fair value), January 1, 2011 900 Prior service cost AOCI (2011 amortization, $8) 80 Net loss AOCI (2011 amortization, $1) 101 Discount rate, 6% Expected return on plan assets, 10% Actual return on plan assets, 11% Required: Determine pension expense for 2011.
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