Bridgeport Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $ 91,000 Contribution to the plan 104,000 Prior service cost amortization 9,400 62,900 39,900 630,400 Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2020 Projected benefit obligation at January 1, Accumulated OCI (PSC) at January 1, 2020 Interest/discount (settlement) rate 2020 701,800 153,000 10 % Compute the pension expense for the year 2020. Pension expense for 2020
Bridgeport Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $ 91,000 Contribution to the plan 104,000 Prior service cost amortization 9,400 62,900 39,900 630,400 Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2020 Projected benefit obligation at January 1, Accumulated OCI (PSC) at January 1, 2020 Interest/discount (settlement) rate 2020 701,800 153,000 10 % Compute the pension expense for the year 2020. Pension expense for 2020
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 4E
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