The following data are for the pension plan for the employees of Crane Company. ...
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Accounting
The following data are for the pension plan for the employees of Crane Company.
1/1/17
12/31/17
12/31/18
Accumulated benefit obligation
$
5300000
$
5430000
$
7000000
Projected benefit obligation
5500000
5660000
7550000
Plan assets (at fair value)
4790000
6250000
6730000
AOCL net loss
0
962000
1070000
Settlement rate (for year)
9%
9%
Expected rate of return (for year)
8%
8%
Cranes contribution was $858000 in 2018 and benefits paid were $741000. Crane estimates that the average remaining service life is 15 years. The actual return on plan assets in 2018 was
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