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Compute the pension expense for the year

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Reference no: EM132902487

Problem - Pina Company provides the following information about its defined benefit pension plan for the year 2017.

Service cost $100,000

Contribution to the plan 95,000

Prior service cost amortization 11,000

Actual and expected return on plan assets 29,000

Benefits paid 36,000

Plan assets at January 1, 2017 682,000

Projected benefit obligation at January 1, 2017 691,000

Accumulated OCI (PSC) at January 1, 2017 153,000

Interest/discount (settlement) rate 5%

Required - Compute the pension expense for the year 2017.

Reference no: EM132902487

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