Sunland Company provides the following information about its defined benefit pension plan for the year 2025. Service cost $91,400 Contribution to the plan 102,900 Prior service cost amortization 9,600 Actual and expected return on plan assets 64,900 Benefits paid 40,600 Plan assets at January 1, 2025 632,300 Projected benefit obligation at January 1, 2025 686,100 Accumulated OCI (PSC) at January 1, 2025 147,300 Interest/discount (settlement) rate
Sunland Company provides the following information about its defined benefit pension plan for the year 2025. Service cost $91,400 Contribution to the plan 102,900 Prior service cost amortization 9,600 Actual and expected return on plan assets 64,900 Benefits paid 40,600 Plan assets at January 1, 2025 632,300 Projected benefit obligation at January 1, 2025 686,100 Accumulated OCI (PSC) at January 1, 2025 147,300 Interest/discount (settlement) rate
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunland Company provides the following information about its defined benefit pension plan for the year 2025.
Service cost
$91,400
Contribution to the plan
102,900
Prior service cost amortization
9,600
Actual and expected return on plan assets
64,900
Benefits paid
40,600
Plan assets at January 1, 2025
632,300
Projected benefit obligation at January 1, 2025
686,100
Accumulated OCI (PSC) at January 1, 2025
147,300
Interest/discount (settlement) rate
11%
Compute the pension expense for the year 2025.
Pension expense for 2025 :$__?__
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