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What is the amount of pension expense to Shine

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Reference no: EM132803310

Question - The following information is about Shine Inc.'s pension plan for 2019.

Discount rate

5%

Service cost

€420,000

Past service costs (due to benefit increase as of January 1, 2019)

60,000

Funding contribution for 2019

500,000

Defined benefit obligation (at beginning of period)

380,000

Fair value of plan assets (at beginning of period)

350,000

Required -

a. What is the amount of pension expense to Shine in 2019? Show computation steps.

b. Show the entries in 2019.

Reference no: EM132803310

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