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Babcock Company received the following reports of its defined benefit pension plan for the entender PBO Balance, January 1 Service cost Interest cost Benefits paid
Babcock Company received the following reports of its defined benefit pension plan for the entender PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $630,000 Balance, January 1 367,000 Actual return 72,000 Annual contribution (90,000) Benefits paid $979,000 Balance, December 31 $520,000 52.000 227,000 (90,000) $709,000 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for the year Multiple Choice $367,000 $439,000 $397,400 $387,000
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