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Please explain how I get to the correct answers! Pension data for Manu Services Inc. include the following: On average, employees' remaining service life with
Please explain how I get to the correct answers!
Pension data for Manu Services Inc. include the following: On average, employees' remaining service life with the company is 10 years When recording the pension expense for 2020 for Manu, Pension Expense will be debited for $ (Do not use the corridor rule) Correct Answer: 164,2692 On January 1,2018 , Oil Trading Co.'s defined benefit pension plan had plan assets with a fair value of $750,000, and a projected benefit obligation of $875,000. In addition: - Actual and expected return on plan assets 8% - Interest cost 7% - Service costs - \$31938 - Unamortized prior service cost - $139300 - Employer contributions to the plan - $70416 - Distributions to employees from the plan - \$44291 Assuming that amortization of prior service cost is $10498, how much will Oil Trading Co. recognize as pension expense for 2018? Correct Answer: 43,6862Step by Step Solution
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