SHOW ALL CALCULATIONS The following information pertains to Apex Company$$s defined benefit pension plan for $2021$:

$1/1/23$ Accumulated OCI $-$ Prior service cost $189,000$

$1/1/23$ Accumulated OCI $-$ Loss $225,900$

Projected benefit obligation $1/1/232,205,000$

Accumulated benefit obligation $1/1/231,882,500$

Plan assets $1/1/231,777,500$

Service cost for $2023207,000$

Settlement rate $5\%$

Expected return on plan assets $5\%$

Actual return on plan assets $73,100$

Estimated future service life of employees $12$ years

What is Apex's total pension expense for $2023?$ How will the pension expense be reported in Apex's $2023$ financial statements?

Answer rating: 100% (QA)

Okay here are the stepbystep calculations 1 Prior service cost as of 1123 189000 2 Loss a... View the full answer