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Pearl Company sponsors a defined benefit pension plan. The following information related to the pension...

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Accounting

Pearl Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2017 and 2018.

2017

2018
Plan assets (fair value), December 31 $810,840 $984,840
Projected benefit obligation, January 1 812,000 928,000
Pension asset/liability, January 1 162,400 Cr. ?
Prior service cost, January 1 290,000 278,400
Service cost 69,600 104,400
Actual and expected return on plan assets 27,840 34,800
Amortization of prior service cost 11,600 13,920
Contributions (funding) 133,400 139,200
Accumulated benefit obligation, December 31 580,000 638,000

Interest/settlement rate

 9%

9%

compute pension expense for 2017:

Compute pension expense for 2018:

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