Rebekah Company provides the following information about its defined benefit pension plan for the year 2010.
Service cost........................................................................... € 90,000
Contribution to the plan...........................................................105,000
Past service cost amortization ...................................................10,000
Actual and expected return on plan assets................................64,000
Benefits paid............................................................................40,000
Pension asset/liability at January 1, 2010.................................10,000
Plan assets at January 1, 2010 640,000
Defined benefit obligation at January 1, 2010.......................800,000
Unrecognized past service cost balance at January 1, 2010 150,000
Interest/discount rate ...............................................................10%
Instructions
Compute the pension expense for the year 2010.