The following information is related to the defined benefit pension plan of Melissa Larson Company for the year: Service cost Contributions to pension plan Benefits paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets $ 90,000 140,000 110,000 540,000 650,000 ৪0, 000 ৪00, 000 870,000 PBO, January 1 PBO, December 31 Discount rate 10% 98 Long-term expected return on plan assets Assuming no other relevant data exist, what is the pension expense for the year?
The following information is related to the defined benefit pension plan of Melissa Larson Company for the year: Service cost Contributions to pension plan Benefits paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets $ 90,000 140,000 110,000 540,000 650,000 ৪0, 000 ৪00, 000 870,000 PBO, January 1 PBO, December 31 Discount rate 10% 98 Long-term expected return on plan assets Assuming no other relevant data exist, what is the pension expense for the year?
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 5E
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![The following information is related to the defined benefit penslon plan of Melissa Larson Company for the year:
Service cost
Contributions to pension plan
Benefits paid to retirees
Plan assets (fair value), January 1
Plan assets (fair value), December 31
$ 90,000
140,000
110,000
540,000
650,000
80,000
800,000
870,000
Actual return on plan assets
PBO, January 1
PBO, December 31
Discount rate
10%
Long-term expected return on plan assets
9 %
Assuming no other relevant data exist, what is the pension expense for the year?
Multiple Choice
$90,000.
$121,400.
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Transcribed Image Text:The following information is related to the defined benefit penslon plan of Melissa Larson Company for the year:
Service cost
Contributions to pension plan
Benefits paid to retirees
Plan assets (fair value), January 1
Plan assets (fair value), December 31
$ 90,000
140,000
110,000
540,000
650,000
80,000
800,000
870,000
Actual return on plan assets
PBO, January 1
PBO, December 31
Discount rate
10%
Long-term expected return on plan assets
9 %
Assuming no other relevant data exist, what is the pension expense for the year?
Multiple Choice
$90,000.
$121,400.
13 of 39
Next >
Prev
Show All
7 Question no....pages
15....pdf
Question no....pages
MacBook Air
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