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I am currently working on this question, I just want to know if I am doing it right. The answer that I just calculated for
I am currently working on this question, I just want to know if I am doing it right.
The answer that I just calculated for pension expense is $187,600.
Additional Problem 12 (Part Level Submission) Bonita Inc. has a defined benefit plan for its employees. On December 31, 2016 the company's records showed the following information related to the plan: Pension plan assets Defined benefit obligation $840,000 921,000 All employees are expected to receive benefits under the plan. The company's actuary provided the following information as at December 31, 2017: Current year service cost Past service benefits, granted July 1, 2017 Defined benefit obligation Discount rate Actual return on assets Contributions for the year Benefits paid to retirees $176,000 30,000 1,032,000 5% 6% 259,000 127,000 (a) x Your answer is incorrect. Try again. Calculate pension expense for Bonita Inc. for 2017, assuming ASPE is used. Pension expense, 2017 $. Attempts: 1 of 2 usedStep by Step Solution
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