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Builders, a U.S. GAAP reporter, reported $560,000 of pension cost for the current year. In making this computation, UbertoUberto informs you that the actual return
Builders, a U.S. GAAP reporter, reported $560,000 of pension cost for the current year. In making this computation, UbertoUberto informs you that the actual return on plan asset in excess of expected returns in the current year is a $233,000 net gain. In addition, the amortization of prior service costs for unvested employees at the end of the year is $88,000. UbertoUberto contributed $160,000 into the plan during the current year. Prepare the journal entry to record the pension cost for the current year.
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