Reference no: EM133179763
Question - Cheyenne Company provides the following information about its defined benefit pension plan for the year 2020.
Service cost $216,000
Contribution to the plan 263,000
Prior service cost amortization 34,000
Actual and expected return on plan assets 119,000
Benefits paid 217,000
Plan assets at January 1, 2020 1,436,000
Projected benefit obligation at January 1, 2020 1,856,000
Accumulated OCI (PSC) at January 1, 2020 319,000
Interest/discount (settlement) rate 10%
Required - Compute the pension expense for the year 2020.
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