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Riverbed Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets
Riverbed Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost Net gain or loss (debit) $482,000 731,000 249,000 Cr. 76,000 85,000 As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020. Service cost Settlement rate, 9%; expected return rate, 10% Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Average remaining service life of active employees $108,000 45,000 25,000 132,000 90,000 10 years Using the preceding data, compute pension expense for Riverbed Corp. for the year 2020 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) Items Annual Pension Expense Cash
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