Complete the pension work sheet for ivanhoe corporation

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Reference no: EM132885196

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%

Problem 1: 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

Reference no: EM132885196

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