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The following information concerns Wildhorse Corp.s defined benefit pension plan. Defined benefit obligation, 1/1/20 (before amendment) $235,000 Plan assets, 1/1/20 138,000 Discount rate 10% Annual

The following information concerns Wildhorse Corp.s defined benefit pension plan.
Defined benefit obligation, 1/1/20 (before amendment) $235,000
Plan assets, 1/1/20 138,000
Discount rate 10%
Annual pension service cost 10,000
Actual return on plan assets 6,900
On January 1, 2020, the company amended its pension plan, which resulted in a reduction in prior service benefits for current employees. The present value of the reduced benefits is $40,000.
Calculate the pension expense that will be reported in net income for 2020 if Wildhorse applies IFRS.
Pension select an option

benefitexpense

$enter a dollar amount

LINK TO TEXT

LINK TO TEXT

Calculate the pension expense that will be reported in net income for 2020 if Wildhorse applies ASPE.
Pension select an option

expensebenefit

$enter a dollar amount

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