Question
The following information is related to the defined benefit pension plan of Dreamworld Company for the year: Service cost$65,000Contributions to pension plan120,000Benefits paid to retirees154,000Plan
The following information is related to the defined benefit pension plan of Dreamworld Company for the year:
Service cost$65,000Contributions to pension plan120,000Benefits paid to retirees154,000Plan assets (fair value), January 1650,000Plan assets (fair value), December 31775,000Actual return on plan assets159,000PBO, January 1945,000PBO, December 31950,500Discount rate10%Long-term expected return on plan assets9%
Assuming no other relevant data exist, what is the pension expense for the year?
Multiple Choice
- $101,000.
- $159,500.
- $99,000.
- $65,000.
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
