Pharoah Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2025 Projected benefit obligation at January 1, 2025 Accumulated OCI (PSC) at January 1, 2025 Interest/discount (settlement) rate Compute the pension expense for the year 2025. Pension expense for 2025 $90,900 103,000 9,300 63,200 39,800 848,600 706,600 148,800 10%

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Pharoah Company provides the following information about its defined benefit pension plan for the year 2025.
Service cost
Contribution to the plan
Prior service cost amortization
Actual and expected return on plan assets
Benefits paid
Plan assets at January 1, 2025
Projected benefit obligation at January 1, 2025
Accumulated OCI (PSC) at January 1, 2025
Interest/discount (settlement) rate
Compute the pension expense for the year 2025.
Pension expense for 2025
$90,900
103,000
9,300
63,200
39,800
648,600
706,600
148,800
10%
Transcribed Image Text:Pharoah Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2025 Projected benefit obligation at January 1, 2025 Accumulated OCI (PSC) at January 1, 2025 Interest/discount (settlement) rate Compute the pension expense for the year 2025. Pension expense for 2025 $90,900 103,000 9,300 63,200 39,800 648,600 706,600 148,800 10%
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