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The following information is available for the pension plan of Sage Company for the year 2020. Actual and expected return on plan assets $13,800 Benefits
The following information is available for the pension plan of Sage Company for the year 2020.
| Actual and expected return on plan assets | $13,800 | ||
| Benefits paid to retirees | 36,600 | ||
| Contributions (funding) | 88,000 | ||
| Interest/discount rate | 11 | % | |
| Prior service cost amortization | 7,900 | ||
| Projected benefit obligation, January 1, 2020 | 502,000 | ||
| Service cost | 59,000 |
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Advanced Accounting
Authors: Debra C. Jeter, Paul K. Chaney
7th edition
1119373204, 9781119373254 , 978-1119373209
