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Culver Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related
Culver Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost OCI-Loss $268,100 341,100 73.000 Cr. 89,600 38,400 As a result of the operation of the plan during 2021, the actuary provided the following additional data for 2021. $45,400 26.600 11,800 65,500 Service cost Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Settlement rate Expected return on plan assets Average remaining service life of active employees 40,800 7 % 8 % 10 years Your answer is partially correct. Indicate the pension amounts reported in the financial statements. Culver Corp. Income Statement (Partial) For the Year Ended December 31, 2021 Operating Expenses Pension Expense $ 22823 Other Income / Expenses Pension Expense $ 22823 Culver Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost OCI-Loss $268,100 341,100 73.000 Cr. 89,600 38,400 As a result of the operation of the plan during 2021, the actuary provided the following additional data for 2021. $45,400 26.600 11,800 65,500 Service cost Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Settlement rate Expected return on plan assets Average remaining service life of active employees 40,800 7 % 8 % 10 years Your answer is partially correct. Indicate the pension amounts reported in the financial statements. Culver Corp. Income Statement (Partial) For the Year Ended December 31, 2021 Operating Expenses Pension Expense $ 22823 Other Income / Expenses Pension Expense $ 22823
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