Bissell Company received the following reports of its defined benefit pension plan for the current calendar...
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Bissell Company received the following reports of its defined benefit pension plan for the current calendar year. PBO Plan assets Balance, January 1 $490,000 Balance, January 1 $257,000 Service cost Interest cost 197,000 31,000 Actual return 38,000 Annual contribution 114,000 Benefits paid Balance, December 31 (87,000) Benefits paid: $631,000 (87,000) Balance, December 31 $322,000 The long-term expected rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year? Bissell Company received the following reports of its defined benefit pension plan for the current calendar year. PBO Plan assets Balance, January 1 $490,000 Balance, January 1 $257,000 Service cost Interest cost 197,000 31,000 Actual return 38,000 Annual contribution 114,000 Benefits paid Balance, December 31 (87,000) Benefits paid: $631,000 (87,000) Balance, December 31 $322,000 The long-term expected rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year?
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