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Compute the pension expense for the year

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Question - Bridgeport Company provides the following information about its defined benefit pension plan for the year 2020.

Service cost

$90,300

Contribution to the plan

106,800

Prior service cost amortization

9,600

Actual and expected return on plan assets

63,800

Benefits paid

39,700

Plan assets at January 1, 2020

629,900

Projected benefit obligation at January 1, 2020

706,100

Accumulated OCI (PSC) at January 1, 2020

150,800

Interest/discount (settlement) rate

10%

Required - Compute the pension expense for the year 2020.

Reference no: EM132436066

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