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Becky Company began a defined benefit pension plan on January 1, 2010. No prior service credit was granted to employees. Service costs amounted to $34,000 in 2010 and $37,000 in 2011. All contributions to the fund were made at the end of the year. At 10% discount rate was used. The expected (and actual) rate of return on plan assets was 12%.

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Category:- Basic Finance
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