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2. Pension Plan In 2017, SaulGroup, Inc. made amendments to its pension plan. As a result, the company incurred $300,000 past service costs. Under the

2. Pension Plan

In 2017, SaulGroup, Inc. made amendments to its pension plan. As a result, the

company incurred $300,000 past service costs. Under the pension plan, there are

200 active employees with an average expected remaining working life of 10 years

and no retirees.

a. How is the amount of past service costs treated in 2017 and subsequent

years under (1) U.S. GAAP and (2) IFRS? Present journal entries.

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