Pension data for Goldman Company included the following for the current calendar year: Service cost ............ 750,000
Question:
Pension data for Goldman Company included the following for the current calendar year:
Service cost ............ 750,000
PBO, January 1 .......... 800,000
Plan assets, January .......... 6,000
Amortization of prior service cost ...... 8%
Discount rate ............. 10%
Expected return on plan assets ....... 12%
Actual return on plan asset ...... $100,000
Required:
Determine pension expense for the year.
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Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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