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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

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

FINANCIAL ACCOUNTING
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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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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