The Donna Company adopted a defined benefit pension plan on January 1, 2016, and prior service cr granted to employees. As of January 1, 2016, the prior service cost is $68,250. The unrecognized pric cost is amortized by the straight-line method over the remaining 15-year service life of the company's employees. Funding for the pension plan was $170,745 and $186,933 at December 31, 2016 and 2017 respectively. Annual service cost Discount (interest) rate 2016 $161,877 2017 $178,065 8%

The Donna Company adopted a defined benefit pension plan on January 1, 2016, and prior service cr granted to employees. As of January 1, 2016, the prior service cost is $68,250. The unrecognized pric cost is amortized by the straight-line method over the remaining 15-year service life of the company's employees. Funding for the pension plan was $170,745 and $186,933 at December 31, 2016 and 2017 respectively. Annual service cost Discount (interest) rate 2016 $161,877 2017 $178,065 8%

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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