I must be figuring the long term rate wrong. Doe co. received the following reports of its
Question:
I must be figuring the long term rate wrong. Doe co. received the following reports of its defined benefit pension plan for the current calendar year.
PB0:
Bal. Jan 1 = $ 430000
Service cost= $199,000
Interest cost= $ 39,000
Benefits paid = ($89,000)
Bal. Dec 31 = $ 579,000
Plan Assets
Bal., Jan. 1= $252,000
Actual return = $ 37,000
Annual Contribution= $119,000
Benefits paid = $ (89,000)
Bal, Dec 31 = $319,000
The long-term rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year?
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Related Book For 
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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