Pension data for Coda Corporation included the following for the current calendar year: Service cost PBO, January 1 Plan assets, January 1 Amortization of prior service cost Amortization of net loss Discount rate, 10% Expected return on plan assets, 12% Actual return on plan assets, 14% $126,000 720,000 770,000 5,700 1,700 Required: Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.) Pension Expense Pension expense

Pension data for Coda Corporation included the following for the current calendar year: Service cost PBO, January 1 Plan assets, January 1 Amortization of prior service cost Amortization of net loss Discount rate, 10% Expected return on plan assets, 12% Actual return on plan assets, 14% $126,000 720,000 770,000 5,700 1,700 Required: Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.) Pension Expense Pension expense

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 7RE

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Given the following information for Tyler Companys pension plan at the beginning of the year, calculate the corridor, excess net loss (gain), and amortized net loss (gain). Assume an average remaining service life of 15 years.
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The following data relate to Ramesh Company's defined benefit pension plan: ($ in millions) Plan assets at fair value, January 1 $720 Expected return on plan assets 72 Actual return on plan assets 58 Contributions to the pension fund (end of year) 124 Amortization of net loss 14 Pension benefits paid (end of year) 17 Pension expense 96 Required: Determine the amount of pension plan assets at fair…