Hudson companys actuary has provided the following, Ask an Expert

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Hudson Company's actuary has provided the following information concerning the company's defined benefit pension plan at the end of 2013:

Fair value of plan assets (1/1/2013) $350,000

Actual projected benefit obligation (1/1/2013) 360,000

Expected projected benefit obligation (1/1/2013) 424,000

Average remaining service life of employees 10 years

The difference between the actual and expected projected benefit obligation first occurred in 2012.

Compute the amount of the net gain or loss to include in Hudson's pension expense for 2013.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91978487

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