Question
Metlock Company provides the following information about its defined benefit pension plan for the year 2020. Service cost$90,900Contribution to the plan103,000Prior service cost amortization9,300Actual and
Metlock Company provides the following information about its defined benefit pension plan for the year 2020.
Service cost$90,900Contribution to the plan103,000Prior service cost amortization9,300Actual and expected return on plan assets63,200Benefits paid39,800Plan assets at January 1, 2020648,600Projected benefit obligation at January 1, 2020706,600Accumulated OCI (PSC) at January 1, 2020148,800Interest/discount (settlement) rate10%
Compute the pension expense for the year 2020.
Pension expense for 2020. $_________
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
