Crane, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan
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Question:
Crane, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2018.
Service cost 225000 Contributions to the plan 210000 Actual return on plan assets 150000 Projected benefit obligation (beginning of year) 3000000 Fair value of plan assets (beginning of year) 1800000
The expected return on plan assets and the settlement rate were both 11%. The amount of pension expense reported for 2018 is
A $555,000.00 B $153,000.00 C $357,000.00 D $225,000.00
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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