Presented below is pension information related to Account, Co.for the year 2020. What is the amount of pension expense for2020?Actual return on plan assets$298,000Interest on vested benefits27,600Amortization of prior service cost due to increase in benefits172,000Expected return on plan assets82,000Interest on projected benefit obligation61,000Service Cost150,000Pension ExpenseFENGstly clearabINTL4/DVOF9F4F5PriscF6F7F8F9DeleteF10F11F12Ins Page <2of 6ZOOMDaBree, Inc. received the following information form its pension plan trusteeconcerning the operation of the company's defined-benefit pension plan forthe year ended December 31, 2020. The service cost component of pensionexpense for 2020 is $625,000, and the amortization of prior service due to anincrease in benefits is $163,000. The settlement rate is 10% and the expectedrate of return is 8%. What is the amount of pension expense for 2020?1/1/2012/31/20Projected benefit obligation$874,000$89,000Pension assets (at fair value)451,000465,000Accumulated benefit obligation223,000250,000Net (gains) and losses150,000Pension ExpenseENGASAINTL

Pension Expenses For the Calculation of the Pension expenses fist to taken up the service cost which…

Presented below is pension information rélated to Account for the year 2020. What is the amount of pension expense for 2020? Actual return on plan assets $298,000 Interest on vested benefits 27,600 Amortization of prior service cost due to increase in benefits 172,000 Expected return on plan assets 82,000 Interest on projected benefit obligation 61,000 Service Cost 150,000 Pension Expense

Presented below is pension information rélated to Account for the year 2020. What is the amount of pension expense for 2020? Actual return on plan assets $298,000 Interest on vested benefits 27,600 Amortization of prior service cost due to increase in benefits 172,000 Expected return on plan assets 82,000 Interest on projected benefit obligation 61,000 Service Cost 150,000 Pension Expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
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