Question
Wildhorse Company provides the following selected information related to its defined benefit pension plan for 2017. Pension asset/liability (January 1) $24,700 Cr. Accumulated benefit obligation
Wildhorse Company provides the following selected information related to its defined benefit pension plan for 2017.
Pension asset/liability (January 1) $24,700 Cr.
Accumulated benefit obligation (December 31) 396,800
Actual and expected return on plan assets 10,200
Contributions (funding) in 2017 149,400
Fair value of plan assets (December 31) 800,100
Settlement rate 10 %
Projected benefit obligation (January 1) 701,700
Service cost 80,010
a.) Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2017.
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