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Presented below is pension information for Welch Company for the year 2018: Actual return on plan assets $24,000 Service cost 30,000 Interest cost 21,000 Amortization
Presented below is pension information for Welch Company for the year 2018: Actual return on plan assets $24,000 Service cost 30,000 Interest cost 21,000 Amortization of prior service cost 18,000 The amount of pension expense to be reported for 2018 is $93,000. $69,000. $60,000. $45,000. Gregory, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2018: January 1, 2018, December 31, 2018 Projected benefit obligation $2, 500,000 $2, 850,000 Plan asset value 1, 250,000 1, 600,000 Accumulated OCI - (PSC) 540,000 300,000 The service cost component for 2018 is $150,000 and the amortization of prior service cost is $240,000. The company's actual funding of the plan is 2018 amounted to $510,000. The actual and expected return on plan assets and the settlement rate were both 8%. What is the pension expense to be reported in 2018? $240,000 $260,000 $490,000 $510,000 Benefits paid to retired employees increases pension expense the plan assets PBO OCI None the above
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