Pension data for goldman company included the following for, Ask an Expert

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Pension data for Goldman Company included the following for the current calendar year:

service cost $100,000
PBO January 1 $750,000
plan Asset January 1, $800,000
amormization of prior service cost 6000
amormization of net loss 2000
discount rate 8%
expected return on plan asset 10%
actual return on plan assets 12%

Required:
Determine pension expense for the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M980698

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