Question 30 The following information applies to the next 4 questions Freeman Inc provides the following...

 

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Question 30 The following information applies to the next 4 questions Freeman Inc provides the following Pension information for the year 2022 Use a worksheet provided to complete the exercise and answer the following questions Beginning of period account balances Plan Assets Projected Benefit Obligation Pension Asset/Liability Accumulated OCI-Pension Gains/Losses Accumulated OCI-Prior Service Cost Pension information for year 2022 Annual Service Cost Interest Cost 9% Actual Return Expected Return Contributions Benefits Paid Amortization of Prior Service Cost $549,000 dr $557,000 cr $ 8,000 cr $ 76,000 dr $ 23,000 dr $ 39,000 $ 50,130 $ 43,810 $ 38,360 $ 45,000 $ 41,500 $4,600 Average Service Life of all covered employees Changes in Actuarial Assumptions for End of Year Projected Benefit Obligations $615,000 14 yrs Use a blank worksheet provided to complete the exercise and answer the following questions Question 30 The following information applies to the next 4 questions Freeman Inc provides the following Pension information for the year 2022 Use a worksheet provided to complete the exercise and answer the following questions Beginning of period account balances Plan Assets Projected Benefit Obligation Pension Asset/Liability Accumulated OCI-Pension Gains/Losses Accumulated OCI-Prior Service Cost Pension information for year 2022 Annual Service Cost Interest Cost 9% Actual Return Expected Return Contributions Benefits Paid Amortization of Prior Service Cost $549,000 dr $557,000 cr $ 8,000 cr $ 76,000 dr $ 23,000 dr $ 39,000 $ 50,130 $ 43,810 $ 38,360 $ 45,000 $ 41,500 $4,600 Average Service Life of all covered employees Changes in Actuarial Assumptions for End of Year Projected Benefit Obligations $615,000 14 yrs Use a blank worksheet provided to complete the exercise and answer the following questions

Answer rating: 100% (QA)

A FREEMAN Incs total pension expense for the year 2022 should be Pension expense 2022 56820 Amortiza... View the full answer