Hello tutor please help me this question general accounting Randel, Inc. received the following information from its pension plan trusteeconcerning the operation of the company's defined-benefit pension plan for the yearended December 31, 2008.January 1, 2008 December 31, 2008Fair value of pension plan assets$4,200,000$4,500,000Projected benefit obligation4,800,0005,160,000Accumulated benefit obligation840,0001,020,000(90,000)Accumulated OCI - (Gains/Losses) -0-The service cost component of pension expense for 2008 is $360,000 and theamortization of prior service cost due to an increase in benefits is $60,000. Thesettlement rate is 10% and the expected rate of return is 9%. What is the amount ofpension expense for 2008?A. $360,000B. $432,000C. $522,000D. $531,000

Step 1: Definition of Pension ExpensePension expense is the cost recognized by a company for its…

Answered: Randel, Inc. received the following…

Intermediate Accounting: Reporting And Analysis

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Chapter19: Accounting For Post Retirement Benefits

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