Reference no: EM132969564
Question - The accountant for Ivanhoe Corporation has developed the following information for the company's defined-benefit pension plan for 2021:
Service cost: $465,000
Actual return on plan assets: $236,000
Annual contribution to the plan: $906,000
Amortization of prior service cost: $123,600
Benefits paid to retirees: $53,000
Settlement rate: 10%
Expected rate of return on plan assets: 8%
The accumulated benefit obligation at December 31, 2021, amounted to $3,180,000.
Using the above information for Ivanhoe Corporation, complete the pension work sheet for 2021?
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