The following information is related to the pension plan of Long, Inc. for 2021. Actual return on plan assets $170,000 Amortization of net gain 123,000 Amortization of prior service cost 130,000 Expected return on plan assets 190,000 Interest on projected benefit obligation 235,000 Service cost 690,000 Compute pension expense for 2021.
The following information is related to the pension plan of Long, Inc. for 2021. Actual return on plan assets $170,000 Amortization of net gain 123,000 Amortization of prior service cost 130,000 Expected return on plan assets 190,000 Interest on projected benefit obligation 235,000 Service cost 690,000 Compute pension expense for 2021.
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 6MC
Related questions
Question
![The following information is related to the pension plan of Long, Inc.
for 2021.
Actual return on plan assets
$170,000
Amortization of net gain
123,000
Amortization of prior service cost
130,000
Expected return on plan assets
190,000
Interest on projected benefit obligation
235,000
Service cost
690,000
Compute pension expense for 2021.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5bdf2140-d85a-4a31-8049-532ef66986b4%2F766dbb74-ad43-4650-9d54-01800b293fad%2Ftzc7ox_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information is related to the pension plan of Long, Inc.
for 2021.
Actual return on plan assets
$170,000
Amortization of net gain
123,000
Amortization of prior service cost
130,000
Expected return on plan assets
190,000
Interest on projected benefit obligation
235,000
Service cost
690,000
Compute pension expense for 2021.
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