The following information is related to the defined benefit pension plan of Havana for the year:Service costContributions to pension planBenefits paid to retireesPlan assets (fair value), January 1Plan assets (fair value), December 31Actual return on plan assetsPBO, January 1PBO, December 31Discount rateLong-term expected return on plan assets$ 65,000117,000156,000643,000760,000156,000915,000915,5003:0910%9%Assuming no other relevant data exist, what is the pension expense for the year?Multiple Choice$96,630.$156,500.2 of 16Next >< PrevMcGrawHillMacBook Air

Pension Expense for the year = Service Cost + Interest Cost - Expected Return on Plan Assets

The following information is related to the defined benefit pension plan of Havana for the year: Service cost Contributions to pension plan Benefit's paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets PB0, January 1 PBO, December 31 Discount rate $ 65,000 117,000 156,000 643,000 760,000 156,000 915,000 915,500 10% Long-term expected return on plan assets 9% Assuming no other relevant data exist, what is the pension expense for the year?

The following information is related to the defined benefit pension plan of Havana for the year: Service cost Contributions to pension plan Benefit's paid to retirees Plan assets (fair value), January 1 Plan assets (fair value), December 31 Actual return on plan assets PB0, January 1 PBO, December 31 Discount rate $ 65,000 117,000 156,000 643,000 760,000 156,000 915,000 915,500 10% Long-term expected return on plan assets 9% Assuming no other relevant data exist, what is the pension expense for the year?

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 3MC

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