Exercise 20-12 Ivanhoe Company received the following selected information from its pension plan trustee concerning the operation of the companys defined benefit pension plan for the year ended December 31, 2017. January 1, 2017 December 31, 2017 Projected benefit obligation $1,522,000 $1,549,000 Market-related and fair value of plan assets 797,000 1,123,700 Accumulated benefit obligation 1,570,000 1,687,800

Accumulated OCI (G/L)Net gain 0 (202,200 ) The service cost component of pension expense for employee services rendered in the current year amounted to $77,000 and the amortization of prior service cost was $117,800. The companys actual funding (contributions) of the plan in 2017 amounted to $247,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,178,000 on January 1, 2017. Assume no benefits paid in 2017. Determine the amounts of the components of pension expense that should be recognized by the company in 2017. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension Expense $

Exercise 20-12 Ivanhoe Company received the following selected information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2017. December 31, 2017 Projected benefit obligation Market-related and fair value of plan assets Accumulated benefit obligation Accumulated OCI (G/L)-Net gain January 1, 2017 $1,522,000 797,000 1,570,000 0 $1,549,000 1,123,700 1,687,800 (202,200) The service cost component of pension expense for employee services rendered in the current year amounted to $77,000 and the amortization of prior service cost was $117,800. The company's actual funding (contributions) of the plan in 2017 amounted to $247,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,178,000 on January 1, 2017. Assume no benefits paid in 2017. Determine the amounts of the components of pension expense that should be recognized by thee company in 2017. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension Expense