Sage Company provides the following information about its defined benefit pension plan for the year 2020. $ 90,100 Service cost Contribution to the plan 104,900 Prior service cost amortization 10,800 Actual and expected return on plan assets 63,000 Benefits paid 40,700 Plan assets at January 1,2020 643,200 Projected benefit obligation at January 1, 2020 690,100 Accumulated OCI (PSC) at January 1, 2020 150,500 Interest/discount (settlement) rate 10 % Compute the pension expense for the year 2020. Pension expense for 2020 $
Sage Company provides the following information about its defined benefit pension plan for the year 2020. $ 90,100 Service cost Contribution to the plan 104,900 Prior service cost amortization 10,800 Actual and expected return on plan assets 63,000 Benefits paid 40,700 Plan assets at January 1,2020 643,200 Projected benefit obligation at January 1, 2020 690,100 Accumulated OCI (PSC) at January 1, 2020 150,500 Interest/discount (settlement) rate 10 % Compute the pension expense for the year 2020. Pension expense for 2020 $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4E
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