Pension data for Sterling Properties include the following: ...................................................................($ in thousands) Service cost, 2021 ......................................................$112 Projected benefit

Question:

Pension data for Sterling Properties include the following:

...................................................................($ in thousands)
Service cost, 2021 ......................................................$112
Projected benefit obligation, January 1, 2021 ..........850
Plan assets (fair value), January 1, 2021 ....................900
Prior service cost—AOCI (2021 amortization, $8) ......80
Net loss—AOCI (2021 amortization, $1) ....................101
Interest rate, ..................................................................6%
Expected return on plan assets, .................................10%
Actual return on plan assets, .......................................11%


Required:
Determine pension expense for 2021.

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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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