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What is the employee benefit expense on december

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Reference no: EM133085597

Question - On January 1, 2021 COMET Company provided the following data in connection with the defined benefit plan: Fair value of plan assets - 6,700,000; Projected benefit obligation - 7,600,000. The accountant revealed the following information for the current year: Current service cost - 1,750,000; Past service cost - 300,000; Discount rate - 10%; Expected return on plan assets - 12%; Actual return on plan assets - 500,000; Contributions to the plan - 2,000,000; Benefit paid to retirees - 1,250,000.

Required - What is the employee benefit expense on December 31, 2021?

Reference no: EM133085597

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