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Blossom Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2025
Blossom Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2025 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2025 amounted to $55,900. 2. The company's funding policy requires a contribution to the pension trustee amounting to $145,484 for 2025 . 3. As of January 1, 2025, the company had a projected benefit obligation of $897,600, an accumulated benefit obligation of $794,300, and a debit balance of $400,300 in accumulated OCI (PSC). The fair value of pension plan assets amounted to $598,200 at the beginning of the year. The actual and expected return on plan assets was $53,600. The settlement rate was 9% No gains or losses occurred in 2025 and no benefits were paid. 4. Amortization of prior service cost was $50,100 in 2025 . Amortization of net gain or loss was not required in 2025 . (a) Determine the amounts of the components of pension expense that should be recognized by the company in 2025 . (Enter amounts that reduce pension expense with either a negative sign preceding the number eg. -45 or parenthesis eg. (45).)
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