Ayayai Company provides the following information about its defined benefit pension plan for the year...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Ayayai Company provides the following information about its defined benefit pension plan for the year 2020.
Service cost
$ 91,300
Contribution to the plan
102,900
Prior service cost amortization
9,500
Actual and expected return on plan assets
64,800
Benefits paid
39,400
Plan assets at January 1, 2020
648,700
Projected benefit obligation at January 1, 2020
694,400
Accumulated OCI (PSC) at January 1, 2020
150,900
Interest/discount (settlement) rate
9
%
Compute the pension expense for the year 2020.
Pension expense for 2020
$enter the Pension expense for 2020 in dollars
For Shamrock Corporation, year-end plan assets were $2,022,000. At the beginning of the year, plan assets were $1,762,000. During the year, contributions to the pension fund were $121,000, and benefits paid were $196,000. Compute Shamrocks actual return on plan assets.
Actual return on plan assets
$enter Actual return on plan assets in dollars
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
